C.J. SEGERSTROM & SONS
THE MONEY: Different branches of the Segerstrom family operate C.J. Segerstrom & Sons and HTS Management, real estate development and management firms that run some of Costa Mesa’s most valuable commercial properties, including famed South Coast Plaza.
THE FAMILY: Stakeholders in the family’s varied business interests, propelled by the late Henry Segerstrom, include his widow, Elizabeth, who along with Sandra “Sandy” Segerstrom Daniels, daughter of Henry’s cousin Harold and his wife, Jeanette, serves as managing partner. Anton, one of Henry’s three children from his first wife, Yvonne de Chavigny Perry, is also a partner in the family business.
RECORD SETTERS: South Coast Plaza saw a record $2.4 billion in annual sales during the 12 months ending June 30, 2022. Recent growth has cemented its place as the top luxury shopping destination in the western U.S., if not the entire U.S. Its sales are estimated to be roughly double those seen at Beverly Hills’ collection of luxe retailers along the 2-mile-long Rodeo Drive, and the OC center brings in over 20 million visitors a year, which is nearly three times the traffic seen at the LA retail hub, according to industry figures. SCP, with about 2.8 million square feet of retail and dining space, first surpassed $1 billion in sales in 2002.
OTHER INVESTMENTS: In addition to South Coast Plaza, the family-run business owns and operates four office properties on the opposite side of Bristol Street under the South Coast Plaza Office Division banner. The Plaza, Center and Park towers are three of the city’s tallest and highest-end office buildings. They total more than 1.3 million square feet and house large law firms, accountant, and other professional services firms. Each building has a different ownership structure and family investors, according to sources. The family also owns hundreds of acres near the San Diego (405) Freeway in Costa Mesa and Santa Ana, some of which remains developable and could likely sell for at least $3 million an acre, if the family ever opted to sell. In addition to the vacant Sears space at South Coast Plaza that’s being eyed for redevelopment, the family also owns land across the street from the mall along Sunflower St., where multifamily redevelopment is planned.