Westwood Financial has bagged a grocery-anchored shopping center in Huntington Beach, California, for approximately $56.2 million, adding one of Orange County’s tightly held coastal retail properties to its portfolio.
The real estate giant Blackstone 95,416 square feet for sale Peninsula Market for about $589 per square foot, according to records with PropertyShark. JLL announced the deal Thursday but declined to disclose the name of the seller or the value of the deal.
Peninsula Marketplace is 98.8 percent occupied. The property is 9.5 acres in size 19021-19125 Goldenwest Street.
The deal reflects investor appetite for existing retail stores across Southern California, where new supply is limited. Supermarket chain Ralphs is an anchor tenant and has operated in the center for more than 25 years. A list of tenants is also included Planet Fitness, Carl’s Jr. and Rubio’s Coastal Grill.
The acquisition is Westwood Financial’s largest in Los Angeles in Southern California in more than a decade, according to JLL. Westwood owns and operates more than 120 shopping centers nationwide, with a portfolio concentrated in boutique and service-oriented retail.
JLL Gleb Lvovich, Geoff Tranchina and Daniel Tyner marketed the property for sale on behalf of the seller.
“Grocery center-anchored in Huntington Beach is rarely traded, and investors are prioritizing that combination of daily-needs tenancy, affluent demographics and limited new resources,” Lvovich said.
Blackstone took control of Peninsula Marketplace as part of its acquisition of $ 4 billion from Retail Opportunity Investments Corporation in early 2025. The deal gives Blackstone ownership of more than 30 Southern California retail propertiesincluding eight in Orange County.
Gregory Cornfield can be reached gcornfield@commercialobserver.com.