Westwood Financial, a retail real estate investment firm based in Los Angeles, announced that Ace Hardware has signed a junior anchor lease agreement at Mercado Del Rancho, a Ralphs-anchored neighborhood retail center in Rancho Santa Margarita, Calif. Ace Hardware, which is the largest retailer-owned hardware cooperative in the world, will occupy a 23,714-square-foot space at the property.
The new Ace Hardware location will be operated by Westlake and is slated to open in Q3 2025.
“Community-oriented tenants like Ace Hardware are the backbone of Westwood Financial’s portfolio of vibrant neighborhood retail centers in some of the country’s fastest growing markets,” said Lauren Ball, chief operating officer at Westwood Financial in a statement. “We are focused on activating our centers with a powerful retail mix that complements and enhances the existing collection of tenants present at the property.”
In addition to Ralph’s, Mercado del Lago is stacked with an expansive tenant line-up of national and locally owned retailers and service providers across 68,085 square feet. Tenants include Starbucks, Little Caesars, Taco Bell, Verizon, Club Pilates, Pure Barre, the Blind Pig, as well as Belo Hair Salon, Carmelita’s Kitchen, Yamame, Il Sole, Ding Tea, and KD’s Donuts. Mercado del Lago was acquired by Westwood Financial in 2007.
To enhance the shopping experience for customers, Westwood Financial recently led a substantial renovation effort at the property, updating the exterior façade and installing new signage for a modern refresh. Nestled on Rancho Santa Margarita lake, the property also draws from its serene surroundings to create a best-in-class guest experience.
Rancho Santa Margarita is an affluent community in Orange County, Calif., with a $202,500 AHI in a 3-mile radius and a population of 52,800, making it an ideal location for retailers looking to expand.
Westwood Financial a more than 55-year-old company owns and manages more than 125 properties with a 97% occupancy across the firm’s portfolio and has a dominant presence in the Sunbelt region.
