Renovated SoCal center goes on the market
Four years after completing a full-scale renovation and rebranding of a lifestyle center in Mission Viejo, Calif., Burnham USA Equities has put it up for sale.
Local, a 92,488-sq.-ft. property located off Interstate 5 sits less than half a mile from The Shops at Mission Viejo, the region’s dominant shopping destination with anchors that include Nordstrom, Macy’s, Dick’s Sporting Goods and Round1.
A current redevelopment at the center has been undertaken by Burnham USA that will introduce an outdoor village concept with open-air dining and landscaped gathering areas scheduled to be completed prior to the 2026 holiday season.
Current leading brands at Local are Joybird, Sleep Number, Walgreens, Terra Outdoor Living, and Pure Barre. Other tenants include Crescendo, Holland House Salon and Ra Yoga.
Burnham USA’s 2022 renovation consisted of a modernization of the center’s exterior meant to enhance tenant appeal and reposition Local to cater to the affluent demographics of South Orange County.
The five-mile trade area includes more than 289,000 residents with average household incomes of $191,000. Burnham USA’s pricing of the property takes into account rapid population growth in Mission Viejo.
Some 1,000 homes are under construction in Rancho Mission Viejo, which also has a long-term plan in place for an additional 14,000 residential units.
“Local gave us an opportunity to reimagine an underutilized property into a distinctive destination for South Orange County,” said Stephen Thorp, an executive VP and partner at Burnham USA. “The result is a center that supports daily life, strengthens the neighborhood, and adds long‑term value for both residents and future ownership.”
Local’s tenant roster supports a merchandising strategy centered on home furnishings, wellness and service‑oriented retailers.
Woodbridge Interiors, Starbucks and Pure Green are located within the center, but are excluded from Burnham USA’s offering.
“Local’s tenant performance and long‑term lease stability align with what private and institutional buyers are prioritizing in today’s market,” noted Hanley.
