PROVO — One of Utah County's major retail shopping centers is being sold.
Jones Lang LaSalle announced Thursday that California-based Brixton Capital has acquired 100 percent ownership of Provo Towne Centre, the 80-store shopping and entertainment property located at 1200 Towne Centre Blvd. As part of the agreement, Brixton has retained Jones Lange LaSalle to manage and lease the nearly 802,000-square-foot enclosed mall.
Headquartered in San Diego, Brixton Capital is the private investment vehicle of BruttenGlobal, an international family office that owns and manages an array of holdings valued at more than $3.3 billion across numerous industries, including real estate, banking, professional sports, aviation, media and consumer products.
As part of the purchase agreement, Jones Lange LaSalle senior vice president Cynthia Murphy will lead the management for the mall.
“Provo Towne Centre is located in one of the fastest-growing cities in Utah that’s home to some of the world’s most successful tech companies, and in close proximity to Brigham Young and Utah Valley universities,” said Murphy. “The trade area brings the buying power of more than 60,000 students to the mall, making it a top destination for retailers looking to expand in the region.”
Built in 1998, the mall touts numerous top national retailers, a food court, restaurants and movie theaters.