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10/01/21
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SoCal-based Brixton Capital bought Marketplace Beaumont, a 187.9k sf shopping center in the Inland Empire city of Beaumont, for $37.5 mil ($200/sf). The seller was a private family trust who originally developed the center.
Completed in 2008, the 91%-leased Marketplace Beaumont is anchored by ALDI and is home to major national tenants, including Ross Dress for Less, Petco, Bed Beth & Beyond and Best Buy. The center comprises eight buildings that include five drive-thru pads occupied by Starbucks, Taco Bell and more.
Marketplace Beaumont has been a strong performer through the pandemic. It is situated on 51.77 acres at 1604, 1693 and 1642 E Second St in one of the fastest growing submarkets in Southern California. More than 13,800 new homes have been added since 2018, and there are nearly 24,000 planned or under construction. More than 80,300 residents earning an average annual household income of $82,236 live within a three-mile radius of the property.
Gleb Lvovich and Daniel Tyner with JLL Retail Capital Markets represented the buyer in the transaction. Aldon Cole and Pat Burger, also with JLL, arranged the acquisition financing.
“Marketplace Beaumont is the dominant center in the rapidly growing area of Beaumont,” Tyner said. “The acquisition was attractive due to its strong performance and quality national tenant roster.”
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