{"id":1004749062,"date":"2025-02-28T05:30:43","date_gmt":"2025-02-28T13:30:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004749062"},"modified":"2025-02-28T06:43:09","modified_gmt":"2025-02-28T14:43:09","slug":"brixton-capital-buys-san-francisco-shopping-center-for-68m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/brixton-capital-buys-san-francisco-shopping-center-for-68m\/","title":{"rendered":"Brixton Capital Buys San Francisco Shopping Center for $68M"},"content":{"rendered":"\n

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\"aerial<\/a>
Washington Square will undergo another transformation, its new owner planning to revitalize the entire property. Image courtesy of Brixton Capital<\/em><\/figcaption><\/figure><\/div>\n\n\n

Brixton Capital has purchased Washington Square, a 215,506-square-foot shopping center in Petaluma, Calif., for $67.5 million. Paragon Commercial Group sold the asset in a transaction arranged by JLL.<\/p>\n\n\n\n

Paragon had acquired the retail center from Fulcrum back in 2021 for $56.2 million, according to CommercialEdge data, with the help of a $34.2 million loan provided by Zions Bank.<\/p>\n\n\n\n

Built in 1971 and renovated in 1996, Washington occupies some 20 acres at 301 S. McDowell Blvd. The new owner intends to upgrade the shopping center by improving the parking facilities, replacing the roofs, repainting the exterior and upgrading the HVAC systems. Brixton also plans to enhance the fa\u00e7ade, renovate the landscaping and install new signage.<\/p>\n\n\n\n

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READ ALSO:<\/strong> What\u2019s in Store for Retail in 2025?<\/a><\/p>\n\n\n\n

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The Safeway-anchored center boasts a diverse mix of regional and national tenants such as Staples, Panda Express, Harbor Freight Tools, Planet Fitness, Five Below, GameStop, Bank of America, Marin Health and Hallmark, among others.\u00a0At the time of the sale, the property was 99 percent leased.<\/p>\n\n\n\n

Washington Square is considered to be among the top 3 percent of U.S. neighborhood shopping centers based on annual visits and the busiest center within a 15-mile radius, according to JLL. The firm’s Managing Directors Bryan Ley and Eric Kathrein and Director Warren McClean brokered the transaction on behalf of Paragon. <\/p>\n\n\n\n

San Francisco’s retail scene<\/h2>\n\n\n\n

In the fourth quarter of 2024, San Francisco\u2019s retail sales witnessed a 5.2 percent year-over-year increase, reflecting a strengthening local economy. The metro\u2019s transaction volume for last year reached $190.1 million, up 3.7 percent from 2023\u2019s figure of $183.3 million, according to a recent Cushman & Wakefield report.<\/p>\n\n\n\n

In addition, San Francisco’s retail market recorded a positive net absorption of 65,700 square feet in Q4, following eight consecutive quarters of negative absorption, the report also shows. As a result, the metro’s overall retail vacancy rate dropped to 7.7 percent by the end of last year.<\/p>\n","protected":false},"excerpt":{"rendered":"

This property previously traded for $56 million in 2021.<\/p>\n","protected":false},"author":3014,"featured_media":1004749065,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21749,1609,15],"tags":[34634,32796,35908],"class_list":["post-1004749062","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-retail","category-san-francisco","category-west","tag-brixton-capital","tag-jll","tag-paragon-commercial-group"],"acf":[],"yoast_head":"\nBrixton Capital Buys San Francisco Shopping Center for $68M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Brixton Capital has purchased Washington Square, a shopping center in Petaluma, Calif., from Paragon Commercial Group.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/brixton-capital-buys-san-francisco-shopping-center-for-68m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Brixton Capital Buys San Francisco Shopping Center for $68M\" \/>\n<meta property=\"og:description\" content=\"Brixton Capital has purchased Washington Square, a shopping center in Petaluma, Calif., from Paragon Commercial Group.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/brixton-capital-buys-san-francisco-shopping-center-for-68m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2025-02-28T13:30:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-28T14:43:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Washington-Square-1-scaled-1-e1740746787616.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1532\" \/>\n\t<meta property=\"og:image:height\" content=\"1150\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Diana Firtea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/brixton-capital-buys-san-francisco-shopping-center-for-68m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/brixton-capital-buys-san-francisco-shopping-center-for-68m\/\",\"name\":\"Brixton Capital Buys San Francisco Shopping Center for $68M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/brixton-capital-buys-san-francisco-shopping-center-for-68m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/brixton-capital-buys-san-francisco-shopping-center-for-68m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Washington-Square-1-scaled-1-e1740746787616.jpg\",\"datePublished\":\"2025-02-28T13:30:43+00:00\",\"dateModified\":\"2025-02-28T14:43:09+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a0c04b9de1387474e28c9ebdb0444e59\"},\"description\":\"Brixton Capital has purchased Washington Square, a shopping center in Petaluma, Calif., from Paragon Commercial Group.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/brixton-capital-buys-san-francisco-shopping-center-for-68m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/brixton-capital-buys-san-francisco-shopping-center-for-68m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/brixton-capital-buys-san-francisco-shopping-center-for-68m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Washington-Square-1-scaled-1-e1740746787616.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Washington-Square-1-scaled-1-e1740746787616.jpg\",\"width\":1532,\"height\":1150,\"caption\":\"Washington Square. 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