Barings has purchased Village Center at Rose, a Ralphs-anchored retail property in Placentia, in a transaction arranged by CBRE. The 118,876-square-foot shopping center, located at 600-858 N. Rose Dr., changed hands for $66.2 million. Barings acquired the fully leased asset from First Washington Realty, with CBRE representing the seller in the sale.
The property was built in 1996 and spans 10.15 acres at the northeast corner of North Rose Drive and Alta Vista Street. Since opening, the center has been anchored by Ralphs, which continues to serve as the primary grocery tenant. Ralphs occupies 37% of the property’s gross leasable area, positioning the supermarket as a significant driver of foot traffic for the surrounding retailers within the center.
Village Center at Rose benefits from a seasoned tenant roster, with a large portion of occupants demonstrating long-term commitment to the location. According to CBRE, 80% of existing tenants have been in place for more than 10 years. This extended tenure supports the narrative of the center as a stabilized, income-producing retail asset with established customer patterns and durable cash flow characteristics.
CBRE’s National Retail Partners – West team, consisting of Jimmy Slusher, Mark Damiani, James Tyrrell and Shaya McClanahan, represented First Washington Realty in the disposition. The marketing effort emphasized the property’s full occupancy, grocery-anchored positioning and its role within the local retail landscape. The involvement of a specialized national retail investment sales team highlights the importance of the asset within the regional shopping center market.
Market fundamentals around Village Center at Rose are described as favorable for neighborhood retail. CBRE notes that the center serves a dense trade area with strong household incomes and limited new retail supply. Within a three-mile radius, more than 147,000 residents rely on the services provided by Ralphs and the in-line tenants at the property. New housing nearby is reported to be adding further demand to the center’s tenant mix, reinforcing the property’s relevance to the surrounding community.
Taken together, the fully leased status, long-standing tenancy and grocery anchor, combined with a dense and growing trade area, frame the acquisition as an institutional-scale investment in a mature, necessity-based retail center. The transaction illustrates ongoing investor interest in stabilized, grocery-anchored shopping centers that are well integrated into established residential neighborhoods.
