Brixton Capital has acquired American Fork Center, a 149,922-square-foot shopping center in American Fork, Utah, for an undisclosed amount. Brixton purchased the property from a partnership between Western Avenue Capital and ALTO Funds in an off-market transaction.
Located at 648 East State Street, the shopping center is 100% leased. Tenants include Vasa Fitness, JOANN, Big Lots, Dollar Tree and Del Taco as well as several other neighborhood-servicing tenants.
According to Brixton’s Vice President of Acquisitions Jim Hamilton, “American Fork is one of the fastest growing areas of Utah, a market where Brixton has long, successful investment experience. To have the opportunity to acquire a quality neighborhood-serving shopping center with a strong line up of existing tenants and additional long, value-enhancing opportunities is very exciting for us. This transaction is a great illustration of Brixton’s approach to acquiring retail properties in high-growth markets with value-add opportunities.”
Brixon plans to upgrade the center through re-painting, parking lot resurfacing, landscaping improvements and signage upgrades.
Mark Selman, president of Brixton Capital, said, “We would like to thank Scott Brady and Garrett Blomquist from the Mountain West Commercial Real Estate team for sourcing this opportunity for our team and for their confidence in our ability to perform. Mountain West’s knowledge of both the leasing and investment elements of the market were critical in our evaluation of the property. We look forward to having Mountain West as our leasing team for the property.”
Brixton owns and operates a portfolio valued in excess of $1.6 billion, representing over 14 million square feet of properties, including 36 retail assets 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.
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For more information about this transaction:
Mark Selman, President Jennifer Whitelaw
[email protected] [email protected]
(858) 367-7147 (619) 733-5944