Westwood Financial Pays $56M for Huntington Beach, Calif., Shopping Center

Westwood Financial has bagged a grocery-anchored shopping center in Huntington Beach, Calif., for approximately $56.2 million, adding one of Orange County’s tightly held coastal retail properties to its portfolio.

Real estate giant Blackstone sold the 95,416-square-foot Peninsula Marketplace 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 spans 9.5 acres at 19021-19125 Goldenwest Street.

The deal reflects investors’ appetite for grocery-anchored retail throughout Southern California, where new supply is limited. Supermarket chain Ralphs is the anchor tenant and has operated at the center for more than 25 years. The tenant roster also includes Planet Fitness, Carl’s Jr. and Rubio’s Coastal Grill.

The acquisition is Los Angeles-based Westwood Financial’s largest 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 grocery-anchored and service-oriented retail.

JLL’s Gleb Lvovich,  Geoff Tranchina and Daniel Tyner marketed the property for sale on behalf of the seller.

“Grocery-anchored centers in Huntington Beach rarely trade, and investors are prioritizing that combination of daily-needs tenancy, affluent demographics and limited new supply,” Lvovich said. 

Blackstone took control of Peninsula Marketplace as part of its $4 billion acquisition of Retail Opportunity Investments Corporation in early 2025. That deal gave Blackstone ownership of more than 30 Southern California retail properties, including eight in Orange County.

Gregory Cornfield can be reached at gcornfield@commercialobserver.com.