Burnham Pacific Properties Buys Mountaingate Plaza

Mountaingate Plaza, an entertainment/promotional shopping center in Simi Valley, has been purchased for $27.5 million by a San Diego-based real estate investment trust.

Burnham Pacific Properties acquires, rehabilitates, develops and manages properties on the West Coast.

Major tenants of Mountaingate Plaza, which is 93% leased, include Edwards Theaters, TJ Maxx, Bally’s Fitness, Thrifty Drugs, Michael’s, SuperCrown Books and Blockbuster Video. The center also has several restaurants, banks and shops.

David Martin, Burnham Pacific’s president and chief executive officer, said the purchase was made in part to expand his company’s presence in the Los Angeles area.