SEGERSTROM FAMILY
C.J. SEGERSTROM & SONS
HTS MANAGEMENT
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.
LUXE SHOPPING: South Coast Plaza saw $2.5B in sales during the 12 months ending June 30, 2023, up 5.6% from the year before. 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 2.8M square feet of retail and dining space, first surpassed $1B in sales in 2002.
REDEVELOPMENT: In addition to the vacant Sears space at South Coast Plaza that’s being eyed for redevelopment, the family owns land across the street from the mall along Sunflower Street, where they plan to redevelop the 17.2-acre South Coast Plaza Village shopping center into a new area with 1,583 residential units, up to 300K square feet of office and up to 80K square feet of retail space. The major mixed-use project dubbed The Village Santa Ana is likely to be the largest development plan in several decades for the family in Orange County, when complete could approach $1.5B in value, the Business Journal estimates.
REWORKING OFFICE: Submitted plans to city of Santa Ana to demolish its roughly 10-acre, three-building, office complex—at 3100, 3110 and 3120 W. Lake Center Drive—to make way for three new industrial buildings on Susan Street, that will total about 300K square feet on nearly 16 acres of land. Project dubbed South Coast Technology Center. Estimated cost tops $126M, according to officials.
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 1.3M 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 $3M an acre, if the family ever opted to sell.