Westwood Financial Acquires 95,416 SF Grocery-Anchored Retail Center in Huntington Beach

Westwood Financial has completed the acquisition of Peninsula Marketplace, a 95,416-square-foot shopping center situated in Huntington Beach, California. This significant transaction adds a grocery-anchored retail asset to Westwood Financial's portfolio, reinforcing its presence in the Southern California market. The property, anchored by a Ralphs supermarket, boasted an impressive 99 percent occupancy rate at the time of sale, indicating strong tenant interest and market stability.

The tenant mix at Peninsula Marketplace is diverse, featuring national and regional brands such as Planet Fitness, Carl’s Jr., Woof Gang Bakery & Grooming, Sourdough & Co., and Rubio’s Baja Grill. Additional tenants include Peninsula Orthodontics, Aim Mail Center, and 602 Coffee & Acai, providing a comprehensive range of services and dining options for the local community. The high lease rate underscores the center's appeal and its ability to attract and retain businesses.

For real estate developers, investors, and lenders, this acquisition highlights the enduring value and investment appeal of well-located, grocery-anchored retail centers. Properties with high occupancy and a stable tenant base, particularly those with essential services, continue to be sought after for their potential for consistent income generation and long-term stability in dynamic market conditions.