Blackstone sells Peninsula Marketplace in Huntington Beach to Westwood for about $56.2 million

Westwood Financial bought Peninsula Marketplace, a 95,416-square-foot grocery-anchored shopping center in Huntington Beach, Calif., from Blackstone for about $56.2 million, or roughly $589 per square foot.

The price traces to PropertyShark records cited by Commercial Observer. JLL announced the deal Thursday but declined to disclose the seller's name or the transaction's value.

The center sits on 9.5 acres at 19021-19125 Goldenwest Street and is 98.8 percent occupied. Ralphs has anchored it for more than 25 years, and the tenant roster also includes Planet Fitness, Carl's Jr. and Rubio's Coastal Grill.

JLL's Gleb Lvovich, who marketed the property with Geoff Tranchina and Daniel Tyner, said grocery-anchored centers in Huntington Beach rarely trade. Buyers are prioritizing daily-needs tenancy, affluent demographics and limited new supply, he said. JLL said the purchase is Westwood's largest in Southern California in more than a decade. The Los Angeles-based buyer owns and operates more than 120 shopping centers nationwide.

Blackstone acquired the center as part of its $4 billion acquisition of Retail Opportunity Investments Corporation in early 2025, a deal that brought more than 30 Southern California retail properties, eight of them in Orange County. Blackstone's entry price for this center is not broken out in the available reporting, so the gain or loss on the trade cannot be calculated from published figures.

The sale provides a disclosed price; an all-cash Vista strip sale in September kept its price private.