After a Strong COVID Performance, Marketplace Beaumont Finds Buyer

Marketplace Beaumont, a 187,851-square-foot shopping center in the Inland Empire community of Beaumont, has been a strong performer during the pandemic. It is situated on 51.77 acres at 1604, 1693 and 1642 E. Second St. in this Riverside County community that is one of the fastest-growing submarkets in Southern California.

The retail center recently sold for $37.5 million. Completed in 2008, the 91 percent-leased Marketplace Beaumont comprises eight buildings that include five drive-thru pads occupied by Starbucks and Taco Bell. The center is anchored by ALDI, Ross, Best Buy, Petco and Bed Bath & Beyond.

JLL worked with Brixton Capital to source the transaction and structure the existing financing. The JLL buyer team was led by Gleb Lvovich and Daniel Tyner. The seller was a private family trust that originally developed the center.

More than 13,800 new homes have been added in Beaumont since 2018, with another 24,000 planned or under construction. More than 80,300 residents earning an average annual household income of $82,236 live within a three-mile radius of the property.