Santa Ana, California

MainPlace

Type
Development
Square Feet
1,097,641 SF
Asset
Retail
Strategy
Value-Add

MainPlace was acquired in 2015 as part of a five-mall portfolio in a venture with Centennial Real Estate Company and Montgomery Street Partners.

MainPlace is a super-regional mall located in Santa Ana, the third-most populous county in California - just minutes away from Disneyland Resort and the Anaheim Convention Center. This three-story mall is home to nearly 200 retail stores, including some of the most popular brands in fashion and beauty, 10 restaurants, two department stores, and a six-screen movie theater.

The investment provided an opportunity to capitalize on mispriced risk and to reposition the asset through remerchandising of tenant mix. MainPlace will be uniquely densified by redeveloping underutilized parcels into synergistic retail and non-retail mixed use spaces.

Project highlights

  • Strong demographics and high barriers to entry inhibit new development keeping downward pressure on retail vacancy rates.
  • Trade area located in top 15% of all malls in the country, underscoring the long-term viability and repositioning opportunity of the asset.
  • Site located in the heart of Orange County, at the intersection of the IH-5, SR-22 and SR-57 freeways.

Status

In 2016, MainPlace completed the first phase of a redevelopment by bringing new uses to the center, including 24 Hour Fitness, Ashley HomeStore, and Round 1 Bowling & Amusement. Future development plans will execute on a vision to transform MainPlace to a retail, economic and social hub of Orange County.

Open Maps

Location details

2800 N Main St
Santa Ana CA 92705

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