Brixton Will Add Value to Polo Plaza with Façade and Common Area Improvements

 

Brixton Capital, a privately held real estate investment firm, has acquired Polo Plaza, a 63,629-square-foot, two-building, mixed-use property in coastal Del Mar, California. Brixton purchased the property for $18.5 million from Dallas-based Lincoln Property Company and Washington, D.C.-based ASB Investment Management.

 

Polo Plaza houses a mix of office and retail tenants. The landmark property sits across from Surf Sports Park (formerly San Diego Polo Fields) at the gateway between two affluent San Diego communities, Del Mar and Rancho Santa Fe. The three-story buildings, located at 3702 and 3790 Villa De La Valle, are unique for their arched façades and bucolic location apart from concentrated commerce.

 

“Polo Plaza represents a generational opportunity to purchase a value-add, iconic property in the affluent coastal region of Del Mar,” said Brixton’s Managing Director of Investments Dan Sutherland. “It’s located just off Interstate 5, adjacent to a top-performing business district and close to the heart of San Diego’s leading technology and life science companies.”

 

Brixton plans to improve the façade and common areas at Polo Plaza and lease the remaining 30% of space. Notable tenants include Berkshire Hathaway, Coldwell Banker Commercial and Market Restaurant + Bar, which is helmed by celebrity chef Carl Schroeder.

 

The property includes 180 parking stalls, with 43 garage stalls. Nearby amenities include Flowerhill Promenade, Del Mar Plaza, Del Mar Fairgrounds and two country clubs.

 

Rick Reeder of Newmark represented the sellers, while Brixton Capital represented itself.

 

For more information, please contact:  Kim Masayko Managing Director, Kmasayko@brixtoncapital.com (619) 733-5944