Brixton Capital, a privately held real estate investment firm, has acquired Monterey Plaza, a 178,204-square-foot shopping center in San Jose, from a Kimco Realty joint venture with Prudential Global Investment Management. Although the sale price was undisclosed, the Mercury News reported it as $33 million.  

Nicholas Bicardo of Newmark Group represented Kimco. Brixton Capital represented itself.  

“Adding Monterey Plaza to our retail portfolio serves as a testament to our firm’s commitment to our value-add strategy aimed at enhancing shopping centers to better serve the surrounding community,” said Dan Sutherland, Brixton Capital’s managing director of investments. “With the center’s current 71% occupancy rate, there are significant opportunities for our team to drive value through lease up of vacant space and improve the shopping experience for local residents with new retail operators.”  

As part of Brixton’s vision for the open-air, grocery-anchored shopping center, the firm plans to re-tenant a former Walmart storefront and a complete revitalization of the property, including new exterior aesthetics and landscaping.