Brixmor Acquires Escondido Retail Center for $40.1M
New York-based Brixmor Property Group acquired the 127,000-square-foot Felicita Town Center from Solana Beach, CA-based Gerrity Group for a reported $40.1 million. The single-level, grocery- and drug-anchored, neighborhood shopping center is located in Escondido, CA
The 11-acre, open-air shopping center was built in the 1990s. Felicita Town Center is located in a high-income, densely populated, infill residential community with high barriers to entry at the southwest corner of Felicita Ave. and Centre City Pkwy.
Dual-anchored by Trader Joe’s and Major Market, other tenants include Starbucks, Express Tire, Papa John’s Pizza, Wells Fargo, H&R Block and Rite Aid. Berkshire Hathaway HomeServices California Properties occupies a 4,027-square-foot office building.
Brixmor, formed in 2013 by the Blackstone Group, owns more than 500 retail centers totaling 86 million square feet.
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