
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.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition