News Summary
Regency Centers Corp. has successfully acquired five retail centers in South Orange County for $357 million, marking a significant milestone in the local real estate market. These centers, which maintain a high occupancy rate of 97%, include major shopping hubs like Bridgepark Plaza and Sendero Marketplace. The transaction not only highlights the demand for retail space in the region but also allows stakeholders to reinvest in the growing market, showcasing the competitive nature of Orange County’s retail landscape.
Regency Centers Acquires Five Retail Centers in South Orange County for $357 Million
Jacksonville, FL – Regency Centers Corp. has purchased a portfolio of five retail centers in South Orange County for $357 million. This acquisition represents one of the most significant retail transactions in Orange County’s history, underscoring the growing demand for retail space in the area.
Details of the Acquisition
The retail centers involved in the deal include Bridgepark Plaza, Mercantile East, Mercantile West, Sendero Marketplace, and Terrace Shops. These shopping centers are located close to the 23,000-acre Rancho Mission Viejo in Ladera Ranch and offer a combined retail space of nearly 630,000 square feet.
At the time of the sale, all five retail plazas were operating at an impressive 97% occupancy. This high occupancy rate reflects strong demand and an active retail market in the region.
Financial Highlights
The acquisition price amounts to $567 per square foot, which surpasses numerous recent retail transactions in the area. The portfolio’s grocery store sales averaged close to $800 per square foot, significantly higher than the national average of $500 per square foot, as reported by the Food Industry Association (FMI). This performance indicates the strength and viability of the retail centers within this portfolio.
Impact on Stakeholders
The transaction allows Westar Associates and Rancho Mission Viejo Corp. to reinvest their ownership interests directly into Regency Centers. This aligns with Westar’s strategy for diversification within the retail property market. Westar has a long-standing partnership with Rancho Mission Viejo, dating back to 1999, focused on developing and managing shopping centers in the Orange County area.
According to CoStar data, this sale is among the largest retail deals in Orange County over the last decade, illustrating the competitive nature of the real estate landscape in the region.
Comparative Market Activity
Other recent retail activity in Orange County includes notable transactions such as Space Investment Partners’ acquisition of Fullerton Metrocenter for $118.5 million and Continental Realty Corp.’s purchase of a nine-property portfolio in Costa Mesa for $110 million. Additionally, Kimco Realty Corp. acquired properties in Huntington Beach and Tustin for nearly $86 million.
Tenant Mix and Future Development
The newly acquired retail centers feature a diverse range of tenants, ensuring a steady stream of foot traffic and sales. Notable tenants include:
- Bridgepark Plaza: Albertsons, Burger King, Chase Bank, Starbucks
- Mercantile East: AT&T Wireless, Chick-fil-A, Five Below, McDonald’s
- Mercantile West: CVS Pharmacy, Stater Bros. Markets, U.S. Bank
- Sendero Marketplace: In-N-Out Burger, Chase Bank, The UPS Store
- Terrace Shops: Domino’s, Ladera Ranch Animal Hospital, Sola Salon Studios
Looking ahead, Rancho Mission Viejo has ambitious plans for future development, including the construction of 14,000 homes and extensive commercial space over the next 15 years.
Current Market Conditions
The retail market in Orange County remains tight, with only 4.1% retail availability as of the third quarter of 2025, below the national average of 4.9%. This scarcity of available retail space suggests continued opportunities and competition for retail property investments in the region.
Financial Advisors and Legal Representation
As part of the transaction, BofA Securities acted as a financial advisor to the sellers, while EY provided tax advisory services. Legal representation for Westar was handled by Latham & Watkins, with Paul Hastings advising Regency Centers.
Deeper Dive: News & Info About This Topic
HERE Resources
Bascom Group Sells Huntington Breeze for $35 Million
Community Leaders Address Impact of ICE Raids in Orange County
Newport Beach Real Estate Market Experiences Major Sale and Merger
Buchanan Street Partners Appoints Ty Vilhauer as VP of Lending
Significant Real Estate Transactions Boost Senior Living and Retail Markets
CapRock Partners Acquires Houston Distribution Center
Fountain Valley Recommends Two Major Housing Developments
Terreno Realty Corp. Acquires Major Industrial Asset in Santa Ana
Rivian Expands Operations with New Facility in Irvine
Sonic Automotive Acquires Four Jaguar Land Rover Dealerships
Additional Resources
- Orange County Business Journal: South County Shops Sell for $357M
- CoStar: Regency Centers Adds to Suburban Retail Boom with Record Orange County Deal
- Orange County Business Journal: Regency Centers Buys Retail Plazas for $357 Million
- Google Search: Retail Market Orange County
- Encyclopedia Britannica: Retail Centers
Author: STAFF HERE COSTA MESA WRITER
COSTA MESA STAFF WRITER The COSTA MESA STAFF WRITER represents the experienced team at HERECostaMesa.com, your go-to source for actionable local news and information in Costa Mesa, Orange County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the OC Fair, Concerts in the Park, and Fish Fry. Our coverage extends to key organizations like the Costa Mesa Chamber of Commerce and Boys & Girls Clubs of Central Orange Coast, plus leading businesses in retail, fashion, and technology that power the local economy such as Vans, Experian, and South Coast Plaza. As part of the broader HERE network, including HEREAnaheim.com, HEREBeverlyHills.com, HERECoronado.com, HEREHollywood.com, HEREHuntingtonBeach.com, HERELongBeach.com, HERELosAngeles.com, HEREMissionViejo.com, HERESanDiego.com, and HERESantaAna.com, we provide comprehensive, credible insights into California's dynamic landscape.
