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Brixton Capital Pays $67.5M for Grocery-Anchored Petaluma Center
Brixton Capital has acquired Washington Square, a 215,506-square-foot shopping center in the Bay Area city of Petaluma, for $67.5 million. The eight-building property at 301 S. McDowell Blvd. was purchased from El Segundo-based Paragon Commercial Group.
“Washington Square is a premier asset in an affluent, supply-constrained market with over 1,200 multifamily units in various stages of development,” said Brixton Capital’s managing director of investments, Dan Sutherland. “The limited retail inventory and high barriers to entry made this an ideal addition to our portfolio.”
Anchored by the top-performing Safeway in a 30-mile radius, Washington Square was originally built in 1971 and renovated in 1996. Brixton Capital plans to enhance the property with parking lot improvements, roof replacements, exterior painting, HVAC upgrades and façade enhancements. Additionally, landscaping renovations and updated signage will be implemented.
JLL’s Bryan Ley, Eric Kathrein and Warren McClean represented the seller. Brixton Capital represented itself.
- ◦Sale/Acquisition
