Brixton Capital has announced the acquisition of The Quad at Whittier, a significant grocery-anchored retail center, for $100 million. This strategic purchase was facilitated by a substantial joint venture established by Brixton last year, underscoring the firm’s commitment to expanding its retail portfolio.
Key Takeaways
- Brixton Capital acquired The Quad at Whittier for $100 million.
- The 314,593-square-foot center is 95.6% occupied.
- Major tenants include Vallarta Supermarkets, Marshalls, Ross Dress for Less, and T.J. Maxx.
- The acquisition was supported by a $250 million retail programmatic joint venture.
A Prime Retail Asset
The Quad at Whittier, spanning 314,593 square feet across nine buildings, is strategically located at 13400 to 13582 Whittier Blvd. and 8415 to 8330 Painter Ave. The center boasts an impressive 95.6% occupancy rate, highlighting its strong market position. Its diverse tenant roster includes essential services and popular retailers such as Vallarta Supermarkets, Marshalls, Ross Dress for Less, T.J. Maxx, Dollar Tree, Petco, Michaels, Five Below, and Burlington.
Strategic Investment and Future Vision
Brixton’s acquisition was partly financed through a $250 million retail programmatic joint venture formed last year with an unnamed global alternative investment manager. This financial backing enables Brixton to pursue significant retail acquisitions like The Quad at Whittier. Rob Taylor, Brixton’s president and CIO, expressed enthusiasm for the property, stating, "We see The Quad as the heartbeat of Whittier. Our goal is to thoughtfully enhance the center through targeted improvements and curated leasing so it continues to be a place where the community can gather, shop and connect."
The retail center, originally constructed in 1953 and expanded in 1965, has undergone renovations over the years. Brixton’s plans aim to build upon its established presence and further solidify its role as a central community hub.