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Westwood Financial buys Huntington Beach grocery-anchored shopping center
The deal values the Peninsula Marketplace at about $56.2 million, with the 95,416-square-foot center 98.8% occupied.
Westwood Financial has acquired the Peninsula Marketplace, a grocery-anchored shopping center in Huntington Beach, California, for approximately $56.2 million, Commercial Observer reported. The property totals 95,416 square feet across 9.5 acres at 19021 to 19125 Goldenwest Street.
According to records cited by Commercial Observer and PropertyShark, Blackstone sold the center for about $589 per square foot. JLL announced the transaction but declined to disclose the seller name or the deal value.
The Peninsula Marketplace is 98.8% occupied, Commercial Observer said. Ralphs serves as the anchor tenant, having operated at the center for more than 25 years, and the tenant roster also includes Planet Fitness, Carl’s Jr., and Rubio’s Coastal Grill.
Commercial Observer also reported that the acquisition marks Westwood Financial’s largest purchase in Southern California in more than a decade, reflecting investor demand for grocery-anchored retail as new supply remains limited in the region.