Exclusive: Tabani Lands $53M for Orange County Retail Center
Frost Bank provided the loan.
Tabani Group has secured a $53 million loan for Bristol Marketplace, a 107,687-square-foot retail center in Santa Ana, Calif., according to Yardi Matrix information. Frost Bank issued the permanent note.
Part of the proceeds retire the existing $11.9 million loan obtained by Tabani in 2023. That note financed the asset’s $17 million acquisition, the same data provider shows. Back then, the property included a vacant 99,800-square-foot building that used to house a Kohl’s store, along with several other retail spaces.
The remainder of the financing covers Tabani’s efforts to reposition the vacant big-box space as well as the associated construction costs.
READ ALSO: Retail Industry Trends
Completed in 1958 as Honer Plaza, the retail center occupies a 5-acre site at 1311 W. 17th St., within a larger, 386,000-square-foot regional shopping center. The tenant roster features Goodwill, Domino’s Pizza, Food 4 Less and The UPS Store.
The property is close to the interchange between Interstate 5 and California state routes 22 and 57, some 32 miles southeast of downtown Los Angeles.
The Orange County retail landscape looks up
In the third quarter of 2025, commercial and multifamily mortgage originations rose 36 percent year-over-year and 18 percent quarter-over-quarter, according to the Mortgage Bankers Association. For retail properties, originations increased 141 percent compared to 2025’s second quarter.
During the same timeframe, the retail landscape in Orange County registered a sharp rebound, with net absorption improving approximately 132 percent quarter-over-quarter—from a negative 170,578 square feet in the second quarter of 2025, to 54,942 square feet in the third quarter, according to a recent Cushman & Wakefield report. The vacancy rate remained unchanged at 4.4 percent, 140 basis points below the national average.
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