Brixton Capital, a privately held real estate investment firm, has acquired Carmel Mountain Gateway Plaza from Triwell Properties, Inc. in an off-market transaction for $21.35 million. The 44,230-square-foot neighborhood shopping center marks Brixton’s fifth California retail acquisition in 2025.
Carmel Mountain Gateway Plaza is approximately 75% occupied and offers a value-add opportunity for Brixton to fill a box space vacated by Party City.
“We’re excited to add Carmel Mountain Gateway Plaza to our portfolio,” said Brixton Capital President and Chief Investment Officer Rob Taylor. “Located in one of San Diego’s most established and dynamic retail nodes—where submarket vacancy stands at just 3.7%, median household income is $161,000 and median home values exceed $1 million—this center exemplifies the type of high-quality, well-located retail assets we continue to target.”
Located at 11465 to 11495 Carmel Mountain Road, the single-building plaza was built in 1995 and renovated in 2019. Anchor tenants include BevMo! and Ulta Beauty.
Carmel Mountain Gateway Plaza is in one of San Diego top retail hubs, with superior demographics and strong cohesion among the other centers in the trade area.
“With a strong mix of national and local tenants, combined with meaningful leasing opportunities in the current vacancy, we believe the property is well-positioned to generate long-term value,” said Brixton Capital Founder and Chairman Marc Brutten. “We look forward to strengthening the center’s role as a community hub and serving the Carmel Mountain neighborhood for years to come.”
Brixton Capital acquired four other California shopping centers this year: The Market Mountain House in Mountain House, Washington Square in Petaluma, Elk Grove Village in Elk Grove and Civic Center Plaza in San Marcos.
Kyle Erthner at UrbanCalifornia represented Torrance, California-based Triwell Properties in the transaction, while Brixton represented itself.
The Carmel Mountain Gateway Plaza acquisition is part of Brixton’s programmatic joint venture with an undisclosed global alternative investment manager to grow Brixton’s portfolio of shopping centers throughout the Western U.S.
About Brixton Capital
Brixton Capital is a preeminent private real estate investment firm focused on generating outstanding, risk-adjusted returns by unlocking embedded value in multifamily and retail properties. Headquartered in San Diego County’s Solana Beach, California, Brixton’s leaderships team brings over 25 years of commercial real estate expertise. The firm currently owns and operates a diverse portfolio of approximately $2.0 billion across the western United States. For more information, visit www.brixtoncapital.com.
