The Provo Towne Centre is under new ownership.
Brixton Capital, a San Diego–based real estate firm, recently purchased the 80-store mall in south Provo and announced the transaction Thursday, Feb. 4. The new owner also announced that JLL, a professional services and investment management firm, was taking over the property’s management and leasing.
Scott Hansen, general manager of the mall, said the new owners and managers will focus on bringing many types of customers to the Provo Towne Centre.
“We plan to add the right merchandising mix to the center to attract not only college students, but also families,” Hansen said in an email.
Brixton Capital said in a press release that it is working with the city to understand Provo’s retail needs. Hansen said Brixton’s efforts include “a renewed focus on adding the right retail, restaurant and entertainment mix to the center.”
Although the Provo-Orem metro area is also home to University Mall, which has about 180 stores and restaurants, Hansen said there is enough business to go around.
“We believe the trade area is large enough to support all the malls in the trade area,” Hansen said. “We offer a great location for retailers and restaurants looking to add a second or third location in the market as well as bring first-to-market retailers to Provo Towne Centre.”
Provo Mayor John Curtis said he was pleased with the purchase.
“Provo is excited to welcome Brixton Capital to our community as the new owners of the Provo Towne Centre,” Curtis said in a press release. “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.”
Curtis later wrote in a blog post that the new ownership is “great news for Provo.”
“I’ve had a chance to personally meet several times with the new owners and I like what I see,” Curtis wrote. “They are committed to making changes and improving the mall.”
Brixton Capital is the third owner of the mall, which was built in 1998. A Chicago company, General Growth Properties, owned Provo Towne Centre from 2005 until the recent sale.
There are nearly 802,000 square feet of stores, restaurants and entertainment space at the Provo Towne Centre. The mall is located near I-15’s University Avenue ramp and open every day of the week.