San Diego — Brixton Capital has acquired Carmel Mountain Gateway Plaza, a 44,230-square-foot neighborhood shopping center in San Diego, for $21.4 million. Built in 1995 and renovated in 2019, Carmel Mountain Gateway Plaza is approximately 75 percent occupied. Ulta Beauty and BevMo! anchor the property, which also offers a value-add opportunity to fill a vacant space formerly occupied by Party City.
Kyle Erthner of Urban California Real Estate represented the seller, Torrance, California-based Triwell Properties, in the transaction. Brixton Capital represented itself.
Brixton has acquired four additional California shopping centers this year including The Market Mountain House in Mountain House; Washington Square in Petaluma; Elk Grove Village in Elk Grove; and Civic Center Plaza in San Marcos.