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Brixmor Buys Prominently Located Brea Gateway for $86M
Brea Gateway Center, a 181,891-square-foot grocery- and drug-anchored retail center in the Orange County community of Brea, recently sold for $85.7 million. Brixmor Property Group purchased the asset.
Anchored by a top-performing Ralphs and Rite Aid, the 97.9 percent-occupied Brea Gateway Center is also home to a curated mix of daily-needs and Internet-resistant tenants that include HomeGoods, Cost Plus World Market, Mattress Firm, Taco Bell, Panda Express and others.
Brea Gateway Center comprises 13 parcels on 12.5 acres at 101-407 W. Imperial Hwy. within one of Brea’s main economic drivers that welcomes approximately 173,841 daytime employees within a five-mile radius. The center also has prominent visibility along the high-traffic Imperial Highway. This dense and affluent Orange County trade area includes more than 134,290 residents with average annual household incomes of $91,069 within a three-mile radius.
The JLL team representing the institutional investor seller was led by Gleb Lvovich, Bryan Ley, Geoff Tranchina and Daniel Tyner.
- ◦Sale/Acquisition
