Pacific Retail JV Buys 880 KSF SoCal Property
The asset is the only super-regional, two-level mall in the area.
Pacific Retail Capital Partners and private investment firm Conversant Capital formed a joint venture to acquire Pacific View Mall, an 884,000-square-foot retail property in Ventura, Calif.
Macerich was the property’s previous owner, Yardi Matrix shows.
PRCP has assumed leasing and operational responsibilities for Pacific View Mall. PRCP, which has a track record of repositioning large-format retail properties, declined to release any information on plans for the mall or the 25.1-acre site.
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The retail center at 3301-1 E. Main St. had been owned by Macerich since December 1996, when the mall owner and operator acquired the property for $95.2 million, according to Yardi Matrix. In April 2022, the property became subject to two CMBS loans totaling $72 million that were set to mature in May 2032, the same source shows.
No details of the new sale price or financing were provided by PRCP and Conversant.
Located at the intersection of Highways 101 and 126, Pacific View is the only super-regional, two-level enclosed shopping destination within its 25-mile trade area along California’s Gold Coast. The center, which has views of the Pacific Ocean and Pierpont Bay, has two entrances off Main Street and Mills Road.
The property opened in 1964, with additional construction continuing through 1999. It was last renovated in 2017.
Entertainment tenant to join mix
Target, Macy’s and JCPenney are the anchors at Pacific View. They are joined by more than 130 national retailers, including Sephora, Ross Dress for Less, Victoria’s Secret, Trader Joe’s and 24 Hour Fitness. The mall also has an 11-option food court, plus other dining offerings including Wood Ranch, Red Robin and California Pizza Kitchen.
Round1 Bowling & Arcade is scheduled to take over the former Sears space, although an opening date has not been announced.
PRCP’s expanding portfolio
PRCP has more than $2.5 billion and 22 million square feet in assets under direct management and leasing. The company also manages 4 million square feet of asset management, advisory and master planning services.
In December, JRE Partners and Anastacia AG selected PRCP to manage the Chesterfield Town Center, a 1 million-square-foot retail center in Richmond, Va., after the partners acquired the asset for $80 million. It’s the largest enclosed mall in the Richmond area and features Macy’s, JCPenney, At Home and T.J. Maxx as anchors along with more than 130 national retailers.
In August 2025, a joint venture of PRCP, Lyon Living and Silverpeak purchased Lakewood Center, a 2 million-square-foot super-regional shopping mall in Lakewood, Calif., with plans to reposition the property into a mixed-use community hub. The mall’s anchors are Costco, Target, Macy’s and Best Buy.
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