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9/24/25
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Brixton Capital has acquired Carmel Mountain Gateway Plaza from Triwell Properties Inc in an off-market transaction for $21.35 mil. The 44.2k sf ($483/sf), neighborhood shopping center marks Brixton’s fifth California retail acquisition in 2025.
Located at 11465 to 11495 Carmel Mountain Rd, just east of I-15, the single-building plaza was built in 1995 and renovated in 2019. Anchor tenants include BevMo! and Ulta Beauty. The center is approximately 75% occupied and offers a value-add opportunity for Brixton to fill a box space vacated by Party City.
Kyle Erthner at UrbanCalifornia represented Torrance-based Triwell Properties in the transaction. Brixton repped itself.
“Located in one of San Diego’s most established and dynamic retail nodes—where submarket vacancy stands at just 3.7%, median household income is $161,000 and median home values exceed $1 million—this center exemplifies the type of high-quality, well-located retail assets we continue to target,” noted Brixton Capital President and Chief Investment Officer Rob Taylor.
Brixton Capital acquired four other California shopping centers this year: The Market Mountain House in Mountain House, Washington Square in Petaluma, Elk Grove Village in Elk Grove and Civic Center Plaza in San Marcos.
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