Shopping center inside. Picture by Erich Westendarp through Pixabay.com
Bridge Group Investments and Steerpoint Capital have acquired North County Mall, a 1.2 million-square-foot purchasing middle in Escondido, Calif.
Unibail-Rodamco-Westfield bought the asset, in accordance with CommercialEdge information. The corporate had bought the middle in 1994, the identical supply exhibits. URW will keep its leasehold curiosity within the purchasing middle till it expires in June 2053, as reported by native publication Occasions Advocate.
Beforehand generally known as Westfield North County Honest, the retail middle is anchored by Macy’s, JCPenney and Goal. Different tenants on the property embody Eternally 21, H&M, MAC, Apple, Sport Cease, 24 Hour Health and lots of extra. The middle additionally consists of a number of eating choices corresponding to Black Angus Steakhouse, BJ’s Restaurant and Brewhouse, The Cheesecake Manufacturing unit and Chipotle.
North County Mall is situated at 272 E. Through Rancho Parkway, in northern San Diego County. The purchasing middle is located on roughly 83 acres, located subsequent to Interstate 15.
Steerpoint Capital Managing Associate Bo Okoroji mentioned in ready remarks that the purchasing middle might be positioned as each a dominant participant within the regional retail market and a vibrant group hub.
North County Mall marks Bridge Group Funding and Steerpoint Capital’s fourth acquisition collectively. The companions have acquired three different retail facilities final yr. In December, the businesses paid $60 million for Antelope Valley Mall, a 441,835-square-foot purchasing middle in Palmdale, Calif.
Final yr, Unibail-Rodamco-Westfield made headlines with one other giant California sale, the disposition of Westfield Santa Anita in Arcadia, in Los Angeles County, for a whopping $538 million.
