CenterCal Properties and Heitman completed the joint acquisition of The Streets of Brentwood, an open-air shopping center in Brentwood, for an undisclosed sum. The 358,700-square-foot property’s new owners plan to reimagine and enhance the center’s offerings.
“The Streets of Brentwood is an important addition to our portfolio of premier, mixed-use properties,” said Jean Paul Wardy, CEO of CenterCal Properties. “We are committed to creating spaces that not only serve as shopping destinations but as community hubs where people can gather, relax, and enjoy a variety of experiences. We look forward to working closely with our retail partners and the Brentwood community to continue to elevate this vibrant center.”
Gordon Black, portfolio manager at Heitman, added, “Open-air lifestyle centers have demonstrated strong operating fundamentals post the COVID-19 pandemic. These fundamentals are further benefitting from minimal new supply and sustained demand from retailers, a trend we believe will continue.”