Brixton Capital closed the $30.5-million sale of Pavilion Shopping Center, a 137,742-square-foot grocery-anchored retail property located at 1900-98 Hacienda Dr. in Vista. Milan Capital Management acquired the fully renovated shopping center.
A JLL Investment Sales and Advisory team led by senior managing directors Gleb Lvovich and Geoff Tranchina and managing director Daniel Tyner represented Brixton. Working on behalf of the new owner, a JLL Debt Advisory team of senior managing directors Jeff Sause and John Chun and associate Allie Black sourced $19.525 million in acquisition financing.
“We are extremely bullish on San Diego in general and North County in particular,” said Lvovich. “The combination of limited supply and increasingly affluent demographics positions the region for strong outperformance.”
The open-air shopping center is 95.3% leased. It is anchored by North Park Produce, a specialty grocer. Other notable tenants include Skechers, Dutch Bros Coffee, Daiso, Biolife Plasma Services and Dunn-Edwards Paints.
The post Brixton Capital Trades Grocery-Anchored Vista Center appeared first on Connect CRE.