ANAHEIM, CA-A San Diego-based retail REIT has paid $20.4 million for a shopping center here, casting aside worries of some other investors that the value of Southern California retail properties may drop in lockstep with the region’s slowing economy.

The buyer is Pan Pacific Retail Properties. Its new acquisition is Brookhurst Center, a 181,000-sf retail complex on Brookhurst Avenue.

The retail center is just a few blocks from Disneyland and the theme park’s sister attraction, California Adventure. Both the buyer and the seller, Southland-based partnership Brookhurst LLC, were represented by Grubb & Ellis broker Dixie Walker.

Disney Corp., the Burbank-based entertainment conglomerate that operates both Disneyland and California Adventure, says ticket sales have recently jumped at the two theme parks. That’s good news for property owners in the area, who depend on Disneyland to generate more traffic for their projects.

Pan Pacific is a retail real estate investment trust that already owns several Southland properties.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.