News Summary
Regency Centers Corp. has made a significant investment by acquiring five retail centers in South Orange County for $357 million. This purchase is one of the largest in the area over the last decade, reflecting a strong retail market with high occupancy rates. The acquisition enables Regency to strengthen its presence in coastal markets while servicing the affluent demographics of Orange County. Each center boasts notable tenants and impressive sales figures, showcasing the retail sector’s resilience in the region.
Ladera Ranch, California — Regency Centers Corp., a real estate investment trust headquartered in Jacksonville, has acquired five retail centers in South Orange County for a total of $357 million. The transaction, which stands out as one of the largest retail deals in Orange County in the past decade, was finalized with the properties being purchased from Westar Associates and Rancho Mission Viejo Corp.
The shopping centers included in the acquisition are Bridgepark Plaza, Mercantile East, Mercantile West, Sendero Marketplace, and Terrace Shops. Together, these centers feature approximately 630,000 square feet of retail space and were at 97% occupancy at the time of sale. This high occupancy reflects the strength of the retail market in the area, which is situated adjacent to the expansive 23,000-acre Rancho Mission Viejo.
The acquisition aligns with Regency Centers’ strategy to expand its presence in coastal markets and to tap into the affluent demographic residing in Orange County. The five centers reported grocery store sales nearing $800 per square foot, significantly higher than the national average of $500 per square foot, according to data from the Food Industry Association.
Details on the Shopping Centers
The specifics of the five retail properties are as follows:
- Bridgepark Plaza is located at 27702 Crown Valley Parkway and includes major tenants such as Albertsons, Burger King, and Starbucks.
- Mercantile East at 27612 Antonio Parkway houses tenants such as AT&T, Chick-fil-A, and Home Goods.
- Mercantile West, situated at 25612 Antonio Parkway, features CVS Pharmacy and Stater Bros. Markets among its tenants.
- Sendero Marketplace, located at 30721 Gateway Place, hosts well-known brands including Chase Bank and In-N-Out Burger.
- Terrace Shops at 1101 Corporate Drive features tenants like Domino’s and Mathnasium.
The acquisition provides Westar and Rancho Mission Viejo the opportunity to transition their ownership interests into a broader investment with Regency Centers, which has a market capitalization of $13.4 billion and oversees 482 centers totaling 61 million square feet across the nation.
Financial Aspects and Market Context
Regency Centers bought this portfolio for $567 per square foot. The deal was financed through a combination of operating partnership units, $150 million in assumed mortgage debt, and $7 million in cash. Legal advisors for Regency included Paul Hastings, while financial advice was provided by BofA Securities, with EY advising Westar on tax matters.
Retail availability in Orange County has remained tight, standing at only 4.1% as of the third quarter of 2025. This competitive retail sector continues to attract a wide range of both private and institutional investors, underscoring the strength of the market.
Future Prospects and Other Notable Transactions
Regency Centers has indicated interest in pursuing future development opportunities with Rancho Mission Viejo beyond this deal. Recent retail transactions of note in the area include Blackstone’s acquisition of nearly $4 billion worth of retail space and DRA Advisors’ acquisition of a $263 million 45-property portfolio, illustrating a booming retail landscape in South Orange County.
As Westar’s Chief Operating Officer noted, the organization has diversified its focus over the past 15 years, branching into multifamily, hospitality, and self-storage developments, while maintaining a core emphasis on neighborhood shopping center development.
This acquisition by Regency Centers highlights ongoing trends in retail real estate, pivoting toward strategic investments in thriving markets and positions the firm favorably for future growth in a robust sector.
Deeper Dive: News & Info About This Topic
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Additional Resources
- Orange County Business Journal
- Bisnow
- CoStar
- Orange County Register
- KTLA
- Wikipedia: Orange County, California
- Google Search: Orange County retail real estate
- Google Scholar: retail market Orange County
- Encyclopedia Britannica: Orange County
- Google News: Orange County retail trends
Author: STAFF HERE MISSION VIEJO WRITER
MISSION VIEJO STAFF WRITER The MISSION VIEJO STAFF WRITER represents the experienced team at HEREMissionViejo.com, your go-to source for actionable local news and information in Mission Viejo, 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 Oso Fit 5K Fun Run and Community Health Fair, Walk Against Drugs & Community Fair, and National Night Out. Our coverage extends to key organizations like the Mission Viejo Chamber of Commerce and Providence Mission Hospital Mission Viejo, plus leading businesses in retail and education that power the local economy such as The Shops at Mission Viejo, Capistrano Unified School District, and Amazon Delivery Station. As part of the broader HERE network, including HEREAnaheim.com, HEREBeverlyHills.com, HERECostaMesa.com, HERECoronado.com, HEREHollywood.com, HEREHuntingtonBeach.com, HERELongBeach.com, HERELosAngeles.com, HERESanDiego.com, and HERESantaAna.com, we provide comprehensive, credible insights into California's dynamic landscape.
