**Regency Centers Acquires Rancho Mission Viejo Retail Portfolio for $357 Million**
Regency Centers has completed a $357 million acquisition of a portfolio comprising five suburban shopping centers located within the expansive 23,000-acre Rancho Mission Viejo master-planned community in Orange County, California.
The newly acquired portfolio includes Bridgepark Plaza, Mercantile West, Mercantile East, Terrace Shops, and Sendero Marketplace, collectively totaling nearly 630,000 square feet of retail space.
Although the seller was not officially disclosed by Regency Centers, the Orange County Business Journal identified it as Westar Associates, the original developer of the properties.
“We are excited to expand Regency’s presence within this thriving Orange County community and to add these high-quality centers to our best-in-class operating platform,” said John Mehigan, Senior Vice President of Investments for the West Region. “The addition of this portfolio enhances our position within one of the most supply-constrained coastal markets in the U.S.”
The portfolio is currently 97% leased, with grocery tenant sales nearing $800 per square foot—a strong indicator of robust tenant performance. Regency Centers also highlighted favorable demographics in the surrounding area, including an average household income of approximately $200,000 within a three-mile radius.
This acquisition underscores Regency’s strategic investment focus on well-located, high-performing retail properties in affluent, high-demand markets.
