News Summary
The Segerstrom family is making significant real estate investments in Orange County with the South Coast Technology Center and a mixed-use redevelopment of South Coast Plaza Village. The South Coast Technology Center is a $126 million development featuring a 313,000 square foot industrial park. Meanwhile, the South Coast Plaza Village project plans to add residential units and commercial space, valued at approximately $1.5 billion. These projects reflect the family’s commitment to economic growth and local development.
Costa Mesa
The Segerstrom family is expanding its real estate portfolio with two significant developments: the South Coast Technology Center and a mixed-use redevelopment plan for the South Coast Plaza Village shopping center in Santa Ana. These projects mark substantial investments in the Orange County region, reflecting the family’s longstanding commitment to local development and economic growth.
The South Coast Technology Center, currently under construction, will feature a three-building industrial park spanning 313,000 square feet over nearly 16 acres. The project, which involves the demolition of the existing Lake Center Office Park at 3100, 3110, and 3120 W. Lake Center Drive, was approved by the Santa Ana City Council in 2024. It is the family’s largest ground-up development in recent years, with an estimated cost of $126 million. Anduril, a defense technology company, is set to lease the property once completed.
In addition, the redevelopment of the South Coast Plaza Village is underway. This project plans to transform the shopping center into a mixed-use facility, incorporating 1,583 residential units, up to 300,000 square feet of office space, and up to 80,000 square feet of retail space. Valued at nearly $1.5 billion, this would mark the largest Orange County-based development initiative undertaken by the family in several decades. The redevelopment plan is currently under review.
Background of the Segerstrom Family’s Ventures
The Segerstrom family’s real estate ventures are anchored by two primary enterprises: C.J. Segerstrom & Sons and HTS Management. These companies have historically been involved in the development and management of valuable commercial properties in Costa Mesa, notably the prestigious South Coast Plaza, which generated $2.5 billion in sales in the 12 months ending June 30, 2024, showing a slight increase of 0.4% over the previous year. South Coast Plaza attracts over 20 million visitors annually, nearly three times the foot traffic of Beverly Hills’ Rodeo Drive.
The family’s business interests date back to the late Henry T. Segerstrom, who played a pivotal role in establishing their real estate legacy. Key figures in the family business today include Elizabeth Segerstrom, Henry’s widow, and Sandra “Sandy” Segerstrom Daniels, the daughter of Henry’s cousin Harold. Additionally, Anton Segerstrom, one of Henry’s children from his first marriage, also serves as a managing partner.
Ongoing Contributions to the Community
Beyond real estate, the Segerstrom family is known for their involvement in the arts community, most notably through the Segerstrom Center for the Arts in Costa Mesa. The arts hub features various cultural venues, including the Renée and Henry Segerstrom Concert Hall, South Coast Repertory, and the recently opened Orange County Museum of Arts, which launched in 2022.
Outside of their shopping center and mixed-use projects, the family also manages four office properties under the South Coast Plaza Office Division. These buildings include the Plaza, Center, and Park towers, covering more than 1.3 million square feet and housing major law and accounting firms.
The Segerstrom family owns hundreds of acres of developable land near the San Diego Freeway in Costa Mesa and Santa Ana. These properties hold significant potential value, with some parcels estimated to yield at least $3 million per acre if sold.
As developments such as the South Coast Technology Center and the South Coast Plaza Village redevelopment move forward, the Segerstrom family continues to shape the landscape and economy of Orange County, marking a new chapter in their illustrious real estate history.
Deeper Dive: News & Info About This Topic
HERE Resources
Orange County Real Estate Market Sees Price Fluctuations
Irvine Named Best City for Renters in Southern California
Costa Mesa Planning Commission Approves New Housing Development
Rising Investor Ownership Trends in California Housing Market
Newport Beach Chamber to Host Third Annual State of the County Luncheon
First American Financial Corp. Reports Strong Q2 Earnings
Suffolk Expands with New Office in Newport Beach
Costa Mesa City Council Approves Victoria Place Condominium Project
In-N-Out Burger CEO Relocates to Tennessee Amid Expansion
California’s Recovery from the Devastating Palisades Fire
Additional Resources
- South OC Beaches: Free Movie Mondays
- LA Times: Miami City Ballet
- OC Sports Zone: Costa Mesa Game
- Broadway World: Frankenstein
- Newport Beach Indy: Broadway Season Unveiling
- Wikipedia: Segerstrom Center for the Arts
- Encyclopedia Britannica: Costa Mesa
- Google Search: Segerstrom Center for the Arts
Author: STAFF HERE COSTA MESA
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, performances at the Pacific Amphitheatre, and community gatherings at The LAB Anti-Mall. Our coverage extends to key organizations like the Costa Mesa Chamber of Commerce and Visit Costa Mesa, plus leading businesses in retail, entertainment, and innovation that shape the local economy. As part of the broader HERE network, including HEREAnaheim.com, HERESantaAna.com, HEREHuntingtonBeach.com, and HERELosAngeles.com, we provide comprehensive, credible insights into Southern California's dynamic landscape.
