A San Diego-based real estate firm, Brixton Capital, closed on their purchase of the Provo Towne Centre on Jan. 29.

The enclosed mall in south Provo features nearly 802,000 square feet of shops, restaurants and entertainment space. The property includes 80 stores, including national retailers such as Dillard’s, Sears, JC Penney, Victoria’s Secret, Buckle, Charlotte Russe, Christopher & Banks, rue21 and more.

Over the next several years, Brixton plans to do a robust capital expenditure program to enrich the experience of Provo Towne Centre. Their focus will be on adapting the property to modern needs and of Provo’s growing community. Brixton has hired JLL to lease and manage the asset.

“Provo is excited to welcome Brixton Capital to our community as the new owners of the Provo Towne Centre. We look forward to a bright future with Brixton and JLL to make this valuable community asset more enjoyable for both the people of Provo and Utah County,” said Provo Mayor John Curtis.

Brixton has been working closely with the mayor and the city on understanding the retail needs of Provo’s growing population. They are committed to adding quality national and regional tenants currently absent from the market.

The mall was built in 1998 by JP Realty and then sold in 2005 to General Growth Properties (GGP), based in Chicago. Its classic, California-style, two-story architecture has not changed and its original anchors, which include JC Penney, Sears and Dillard’s, have been at the mall since inception.

The change in ownership marks a new era for Provo Towne Centre in becoming a destination center of shopping, dining and entertainment in Utah County.