Westwood Financial has expanded its Southern California holdings with the acquisition of Peninsula Marketplace, a grocery-anchored shopping center in Huntington Beach. The property, which is anchored by a Ralphs supermarket, totals 95,416 square feet and was acquired for an undisclosed price. According to information from the company, the center is currently 99% leased, underscoring its position as a nearly fully occupied retail asset within the local market.
Westwood Financial framed the transaction within the context of a strengthening retail environment across Southern California. The company noted that in the second quarter of 2026, Orange County led the Greater Los Angeles region in positive net absorption, signaling firm tenant demand and improving occupancy trends for retail space. Against that backdrop, Peninsula Marketplace aligns with a broader pattern of tightening fundamentals that Westwood is seeing both in the county and across the region.
The firm also highlighted its own portfolio performance as a reference point for current conditions. At the end of the first half of 2026, Westwood reported that its owned Southern California portfolio was more than 99% leased. This high occupancy level indicates that its retail centers, including grocery-anchored properties such as Peninsula Marketplace, are experiencing strong tenant retention and limited vacancy at this stage of the cycle.
In comments on the acquisition, Lauren Ball, chief operating officer at Westwood Financial, described Peninsula Marketplace as a substantial addition to the company’s holdings. She emphasized that grocery-anchored retail has been a central component of Westwood’s business strategy for nearly six decades, and that the firm has built a detailed understanding of how to differentiate opportunities in this segment. That experience, she suggested, informs the company’s approach to selecting and operating assets like Peninsula Marketplace.
Ball also pointed to the role of the Ralphs supermarket as a key driver of the property’s performance. Ralphs has operated at the Peninsula Marketplace location for more than 20 years, and Westwood views that long-standing presence as evidence that the center is closely integrated into the Huntington Beach community. The firm regards this type of entrenched anchor tenancy as an important characteristic for neighborhood and community shopping centers that serve established trade areas.
Westwood Financial characterized itself as a legacy owner and operator within Southern California, and linked this acquisition to its long-term commitment to the region’s retail sector. While financial terms of the transaction were not disclosed, the company signaled that it sees continued opportunity in grocery-anchored assets as the Southern California retail market shows signs of ongoing strength. Peninsula Marketplace, with its high occupancy, established anchor tenant and position within a county leading the region in net absorption, fits within that view of the market’s current trajectory.
