REIT strengthens grocery-anchored retail presence in high-income suburban markets
In Southern California, Chino Spectrum Towne Center’s anchors include an H Mart Asian grocery store. (CoStar)
Retail real estate owner Brixmor Property Group has expanded its U.S. retail portfolio with the acquisition of two grocery-anchored shopping centers in California and Colorado, investing a total of $190.7 million as part of its long-term growth strategy.
The New York-based REIT announced that during the fourth quarter it acquired Chino Spectrum Towne Center in Chino Hills, California, for $138 million, along with Broomfield Town Center in Broomfield, Colorado, for $51.2 million.
Strategic Retail Acquisitions in High-Barrier Markets
These acquisitions align with Brixmor’s clustering strategy, which focuses on expanding its footprint in attractive, high-barrier-to-entry retail markets. The company aims to strengthen market density by grouping assets in high-performing regions such as Southern California and suburban Denver.
According to Mark Horgan, Executive Vice President and Chief Investment Officer, the purchases support Brixmor’s external growth strategy by adding well-located, grocery-anchored retail assets that offer long-term value creation and accretive growth opportunities.
“These strategic acquisitions further enhance our presence in Southern California and suburban Denver while reinforcing our focus on resilient, necessity-based retail,” Horgan said.
Brixmor indicated it plans to continue pursuing similar retail investment opportunities throughout the year.
Chino Spectrum Towne Center: Southern California
The 461,000-square-foot Chino Spectrum Towne Center, located at 3801–4097 Grand Ave., sits less than 35 minutes east of Los Angeles in the high-income Chino Hills market. Previously owned by MetLife, the center attracts more than 14 million visitors annually, according to Brixmor.
The property is anchored by H Mart Asian Supermarket and features major national retailers including Best Buy, BevMo, Marshalls, Nordstrom Rack, Skechers, and Ulta Beauty. It is also shadow-anchored by Sam’s Club and a Walmart Supercenter, complementing four other Brixmor-owned shopping centers in the area.
Broomfield Town Center: Denver Metro Area
In Colorado, Brixmor acquired the 175,000-square-foot Broomfield Town Center at 12161 Sheridan Blvd. from AEW Capital Management. The property is located in an affluent Denver suburb and is anchored by King Soopers, a leading grocery chain in the region.
This acquisition enhances Brixmor’s Denver-area retail portfolio, adding to its six existing shopping centers in the market.
Portfolio Optimization Through Asset Sales
During the same quarter, Brixmor also generated approximately $170.2 million in gross proceeds through the sale of eight shopping centers and two partial property interests, reflecting an ongoing effort to optimize its retail real estate portfolio.
With these latest acquisitions, Brixmor Property Group continues to demonstrate confidence in grocery-anchored retail centers as a stable and growth-oriented asset class within the evolving U.S. retail landscape.
