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5/04/26
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Brixton Capital acquired Escondido Gateway, an 89.3k sf shopping center in Escondido, from Del Mar, California-based Mountain Pacific Properties for $28 mil ($314/sf) in an off-market transaction. Built in 2003, Escondido Gateway is located at 810-840 W. Valley Pkwy, immediately off Interstate 15’s West Valley Pkwy exit between I-15 and Centre City Pkwy, a major arterial road.
Consisting of four building pads, Escondido Gateway enjoys robust retail traffic driven by tenants Barnes & Noble, Michael’s, Columbia Bank, Cocina Del Charro and others. The property benefits from the synergy of a retail hub. Six other retail centers are concentrated in the same area, creating a robust and dynamic retail node.
The center is a well maintained, Class A property and requires minimal capital investment. Instead, Brixton will focus its immediate efforts on leasing the two vacant suites.
Brixton purchased this high-quality center at a significant discount to replacement cost and expects to lease the vacant suites quickly. The shopping center’s current occupancy rate is 96.8%. Escondido Gateway joins Brixton’s other San Diego County retail portfolio assets: Santee Town Center, Civic Center Plaza, Polo Plaza, Del Mar Plaza and more.
Phil Lyons and Vince Provenzano of Cushman & Wakefield represented the seller, while Brixton represented itself in this transaction.
The Escondido submarket has consistently demonstrated the fundamentals Brixton prioritizes. With vacancy below 4.3% excluding malls, above-average rent growth and a supply-constrained environment where virtually no new retail is being built, the market continues to attract national credit tenants and generate strong investor interest.
“We are seeing compelling demographic trends in this market — over 114,000 residents within three miles of the center with average household incomes of $120,000 and projected population growth through 2031,” said Brixton’s Director of Investments Mike McFadden. “We have strong conviction that Escondido will continue to attract the kind of household formation and consumer spending that supports great retail.”
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