Westwood Financial has acquired a grocery-anchored shopping centre in Huntington Beach, California, for approximately USD 56.2 million. With this acquisition, the company adds one of the highly desirable retail properties on the Orange County coast to its portfolio.
Real estate giant Blackstone sold the 95,416 square foot (approx. 8,865 square metre) “Peninsula Marketplace” for approximately USD 589 per square foot. This is according to PropertyShark records. JLL, which advised on the transaction, confirmed the closing but did not disclose details about the seller or the exact value of the deal.
High Occupancy and Strong Anchor Tenants
The “Peninsula Marketplace” boasts an occupancy rate of 98.8 per cent. The property spans 9.5 acres (approx. 3.8 hectares) at 19021-19125 Goldenwest Street. This transaction underscores continued investor interest in grocery-anchored retail spaces in Southern California, where the supply of new properties is limited.
The supermarket chain Ralphs serves as an anchor tenant and has been present at this location for over 25 years. The tenant mix also includes Planet Fitness, Carl’s Jr., and Rubio’s Coastal Grill.
Strategic Expansion in Southern California
For Los Angeles-based Westwood Financial, this acquisition represents its largest in Southern California in over a decade, according to JLL. Westwood owns and operates more than 120 shopping centres nationwide, with its portfolio focusing on grocery and service-oriented retail.
Gleb Lvovich, Geoff Tranchina, and Daniel Tyner of JLL marketed the property on behalf of the seller. Lvovich emphasised that grocery-anchored centres in Huntington Beach rarely change hands, and investors prioritise this combination of daily-needs businesses, affluent demographics, and limited new construction.
Blackstone acquired control of “Peninsula Marketplace” as part of its USD 4 billion acquisition of Retail Opportunity Investments Corporation in early 2025. This deal gave Blackstone ownership of over 30 retail properties in Southern California, including eight in Orange County.
