Westwood Financial Acquires Huntington Beach Retail Center for $56.2 Million

Westwood Financial has completed the acquisition of Peninsula Marketplace, a 95,416-square-foot grocery-anchored shopping center located in Huntington Beach, California. The property was sold by real estate giant Blackstone for approximately $56.2 million, translating to about $589 per square foot. JLL brokered the transaction, which was announced on Thursday, October 8, 2026.

Peninsula Marketplace, situated on 9.5 acres at 19021-19125 Goldenwest Street, boasts a 98.8 percent occupancy rate. Its anchor tenant, Ralphs grocery store, has been operating at the center for over 25 years. Other tenants include Planet Fitness, Carl's Jr., and Rubio's Coastal Grill. This deal represents Los Angeles-based Westwood Financial's largest acquisition in Southern California in over a decade, further expanding its portfolio of over 120 shopping centers nationwide.

According to JLL's Gleb Lvovich, the sale underscores the high demand for grocery-anchored retail centers in Huntington Beach, driven by affluent demographics and a scarcity of new supply. Blackstone had acquired Peninsula Marketplace as part of its $4 billion purchase of Retail Opportunity Investments Corporation in early 2025. The transaction highlights the continued value of essential-service retail properties in supply-constrained markets.