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1/21/22
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Brixmor Property Group closed on the acquisition of an Orange County retail property, paying $85.7 mil for Brea Gateway Center, a 181.9k sf ($471/sf), top-tier grocery- and drug-anchored retail center in the Orange County city of Brea.
Anchored by a top-performing Ralphs and Rite Aid, the 98%-occupied Brea Gateway Center is also home to a curated mix of nationally recognized, daily-needs and internet-resistant tenants that include HomeGoods, Cost Plus World Market, Mattress Firm, Taco Bell, Panda Express and more.
Brea Gateway Center comprises 13 parcels on 12.5 acres at 101-407 W. Imperial Hwy within one of Brea’s main economic centers that welcomes approximately 173,841 daytime employees within a five-mile radius. The center also has prominent visibility at its position along the high-traffic Imperial Highway, which has a daily traffic count of 64,646 vehicles a day. This dense and affluent Orange County trade area includes more than 134,290 residents with an average annual household income of $91,069 within a three-mile radius.
Gleb Lvovich, Bryan Ley, Geoff Tranchina and Daniel Tyner with JLL Retail Capital Markets represented the seller, an institutional investor.
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