Brixton Capital, a privately held real estate investment firm, has acquired Pacific Town Center, a 143,217-square-foot shopping center in Stockton, California, for an undisclosed amount. Brixton purchased the property in an off-market transaction.

 

Encompassing 718-760 West Hammer Lane, Pacific Town Center is located at the southeast corner of one of Stockton’s busiest intersections. Existing tenants include Smart & Final, Aaron’s, Panda Express, Subway and other neighborhood-serving retailers and restaurants.

 

“For Brixton, opportunity once again met experience in Stockton, where our firm continues to invest in neighborhood-servicing shopping centers in the heart of California’s fastest growing metro area,” said Daniel Sutherland, Brixton Capital’s Managing Director of Investments, “Our team is thrilled to acquire the ideally located center, already home to a robust lineup of tenants, with even more value-enhancing prospects on the horizon that will improve the community’s shopping and dining experiences.”

 

While the center is currently 42% leased, Brixton plans to re-tenant a former Toys ‘R’ Us space and the center’s recently vacated T.J.Maxx storefront to bring new retail offerings to the community.

 

Mark Selman, President of Brixton Capital said, “This transaction embodies Brixton’s unwavering commitment to acquiring value-add retail properties in high-growth markets and transforming them into local hubs that fit the modern needs of local residents.”

 

Hanley Investment Group represented the Sacramento-based, private seller in the transaction.