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Brixton Capital Sells 290,000 SF Towngate Center in Moreno Valley for $50.9M

Towngate-Center-Moreno-Valley-CA

ULTA Beauty, TJ Maxx/Home Goods, BevMo!, Ross Dress for Less, Dollar Tree, Regency Theaters, Planet Fitness, Chipotle and Wells Fargo Bank are tenants at Towngate Center in Moreno Valley, Calif.

MORENO VALLEY, CALIF. — Brixton Capital has completed the sale of Towngate Center, a community shopping center located at 12625 Frederick St. in Moreno Valley. An Asian-Pacific-based 1031 exchange buyer acquired the asset for $50.9 million.

At the time of sale, the 290,000-square-foot property was 95 percent occupied by national and regional credit tenants, including TJ Maxx/Home Goods, BevMo, Ross Dress for Less, Dollar Tree, ULTA Beauty, Regency Theaters, Planet Fitness, Chipotle and Wells Fargo Bank.

Phillip Voorhees of CBRE’s National Retail Partners-West represented the seller in the transaction.

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