Brixton Capital has acquired Marketplace Beaumont, a 187,851-square-foot shopping center in Beaumont, California. Brixton purchased the property from the FJ Hanshaw Trust in an off-market transaction.
Located at 1604, 1642 and 1693 E Second St. with strong access to and visibility from the I-10 Freeway, the shopping center is 92% leased. National tenants include Aldi, Petco, Ross, Best Buy, Taco Bell, Starbucks, Bank of America and others.
The property includes five drive-through pads. Brixton’s renovation plans for Marketplace Beaumont include new paint and lighting as well as resurfacing the parking lot.
According to Brixton’s Vice President of Acquisitions Jim Hamilton, Marketplace Beaumont is located in one of the fastest-growing areas of Southern California. “To have the opportunity to acquire a grocery-anchored center with a strong line up of existing tenants and additional value-enhancing opportunities is very exciting for us. This transaction is a great illustration of Brixton’s value-add retail investment platform. “
Gleb Lvovich & Daniel Tyner of JLL represented Brixton in the transaction, while the FJ Hanshaw Trust represented itself.
Brixton Capital President Mark Selman said, “Marketplace Beaumont is a true off-market opportunity. We are grateful to have strong relationships with other professionals in the real estate industry to help us identify and capitalize on these types of opportunities.”
Brixton’s acquisition of Marketplace Beaumont brings its portfolio of retail properties to over 1.4 million square feet. Overall, Brixton owns and operates a portfolio valued in excess of $1.3 billion, representing over 10 million square feet of retail, multi-family, office and land investments across the United States and Europe.
About Brixton Capital
Brixton Capital is a preeminent private real estate investment firm that seeks to generate outstanding, risk-adjusted returns by unlocking embedded value in commercial real estate transactions spanning all property types. Headquartered in San Diego County’s Solana Beach, California, Brixton is led by a team of seasoned commercial real estate experts with an average of more than 25 years of experience. For more information, visit www.brixtoncapital.com.