The Del Mar Plaza, which is located in the heart of the upscale coastal city that bears its name, has been sold for an undisclosed price, but let your imagination have at it.
It's a stellar piece of property.
As a news release notes: "The unrivaled 76,000-square-foot shopping center boasts panoramic ocean views from its spacious outdoor patio along with seven upscale dining options and national retailers such as Banana Republic and Lorna Jane."
An affiliate of Brixton Capital was the buyer. Munich, Germany-based GLL Real Estate Partners was the seller.
According to the news release, Brixton plans to revitalize and reimagine center by modernizing and elevating the overall appearance, tenant mix and community outreach in order to better meet the needs of local residents and visitors.
According to Marc Brutten, chairman of Brixton Capital and long-time Del Mar resident, “The shopping center was built with a tremendous amount of community input in a timeless and irreplaceable location. The Plaza now needs to re-capture that original sense of community purpose with a more defined tenant mix and active event calendar."
A major part of Brixton’s plan for the center will be attracting greater community involvement in the center with frequent events and entertainment activities on the plaza level patio with its surrounding vista of the Pacific Ocean.
Travis King, CEO of Brixton Capital, stated, “Del Mar Plaza presents a unique opportunity to unlock value in one of San Diego's finest properties. We are excited to work with tenants and the community to make that happen."
Thao Tran, Senior Vice President at Eastdil Secured, represented both parties in the sale of the property.
Brixton Capital is the private investment vehicle of BruttenGlobal, an international family office that owns and manages a diverse array of holdings valued in excess of $3.3 billion across a variety of industries, including real estate, banking, professional sports, aviation, media and consumer products.