Brixton Capital Sells San Diego Grocery-Anchored Plaza, Extending the Run on Retail
Buyer Milan Capital landed a $20 million loan from an undisclosed lender for the 95%-occupied asset
By Nick Trombola December 3, 2025 4:45 pm
reprints
Retail assets are all the rage in Southern California, and an investment firm based in Anaheim is getting its piece of the grocery-anchored pie.
Milan Capital Management paid $30.5 million for Brixton Capital’s Pavilion Shopping Center, a 137,742-square-foot, grocery-anchored plaza in Vista, about 40 miles north of San Diego. The complex at 1900-98 Hacienda Drive is roughly 95 percent leased. Specialty grocer North Park Produce anchors the plaza, alongside BioLife Plasma Services, Daiso, Dunn-Edwards Paints, Dutch Bros Coffee and shoe retailer Skechers.
JLL’s Gleb Lvovich, Geoff Tranchina and Daniel Tyner brokered the sale. JLL Debt Advisory’s Jeff Sause, John Chun and Allie Black also secured a $19.5 million acquisition loan from an undisclosed lender.
“Grocery-anchored retail continues to attract strong demand from investors and North County San Diego has extremely high barriers to entry, further driving opportunity for growth at Pavilion Center,” Tyner said in a statement.
“We are extremely bullish on San Diego in general, and north county in particular,” Lvovich added. “The combination of limited supply and increasingly affluent demographics position the region for strong outperformance.”
California has seen a surge in investors and lenders who see the upside to retail and shopping centers, including in the San Diego region. In late September, Laguna Niguel-based Buie Stoddard Group landed a $54 million credit facility tied to five such assets in Southern California, including High Country Plaza in North County. Also, Baldwin & Sons in August secured a $66 million refi toward Piazza Carmel, a grocery-anchored property in San Diego’s Carmel Valley.
Nick Trombola can be reached at ntrombola@commercialobserver.com.
