Shopoff Acquires Remaining SoCal Westminster Mall Ahead of Planned Redevelopment
Shopoff Realty Investments, a national manager of opportunistic real estate investments and sponsor of private placement offerings, has acquired the remaining portions of the Westminster Mall, totaling an additional 57.5 acres, ahead of its planned mixed-use redevelopment, Bolsa Pacific at Westminster. Shopoff previously acquired the mall’s 14.1-acre former Sears parcel in July 2022 and the 11.7-acre Macy’s parcel in August 2022. The balance of the mall was acquired from Washington Prime Group, or WPG.
The project site now totals 83.3 acres, currently housing the Westminster Mall and surrounding retail properties. The planned Bolsa Pacific at Westminster development is expected to include approximately 2,250 housing units, comprising for-sale homes and both market-rate and affordable rental housing.
The project will also include a 120-room hotel, as well as more than 220,000 square feet of retail space. In addition, the site will dedicate more than 15 acres to open space, including private resident spaces, open-air promenades, and a network of walking trails. Entitlement plans have been submitted to the city for review, with anticipated approval in 2026.
“Creating a vibrant new community, complete with essential housing, retail spaces, a hotel, and 15 acres of open space has been long in the making. Bolsa Pacific will play a key role in strengthening Westminster’s economy and revitalizing the city and its surrounding neighborhoods,” said William A. Shopoff, president and chief executive officer of Shopoff Realty Investments. “Through this project, we hope to realize a more cohesive master planned development and be able to help shape a large part of the future of Westminster to better serve the greater community.”
Demolition of the existing mall is planned for later this quarter, while Target will continue operating. Once demolition and entitlements are completed, construction is anticipated to begin in the fourth quarter of 2026.
Shopoff Realty Investments is an Irvine, Calif.-based real estate firm with a 34-year history of development projects, the repositioning of commercial income-producing properties, and the entitlement of land assets.
Previously reported by AltsWire, Shopoff sold Date Palm Interiors, a fee simple land interest on homes located within the Desert Princess Community in Cathedral City, Calif., for $8 million last fall; Date Palm Interiors was part of Shopoff’s greater Westkin portfolio, which was acquired for $23 million in November 2017.
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