Burnham-Ward Properties Buys Retail Center in Tustin, California, Plans Mixed-Use Redevelopment Project
Why this matters
Retail has become a quiet outperformer. A decade of effectively zero new development has left necessity-driven, grocery-anchored, and Sun Belt strip product with negligible vacancy and re-leasing spreads in the high single digits. Cap rates have compressed in step, and the bid for stabilized portfolios is again broad across REITs, pension funds, and institutional core-plus capital. The asset class has effectively rerated as a defensive yield trade rather than a secularly challenged sector.
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On the RET wire
- Disclosed retail deal value tracked in August 2026: $2.7B across 94 reported transactions. All Retail coverage →
Computed from Real Estate Trail’s own tracked coverage
TUSTIN, CALIF. — Burnham-Ward Properties has closed escrow on the purchase of Enderle Center, a retail center in the Orange County city Tustin. The company will redevelop the asset, renamed Campo on 17th, and introduc…
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