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Rancho Cucamonga’s Victoria Gardens mall sells for $530 million

March 13, 2026

Victoria Gardens has a new owner as Newport Beach-based real estate company Redwood West has purchased the Rancho Cucamonga outdoor mall for $530 million in a partnership with Irvine-based real estate developer Panattoni.

Redwood West plans to spend $50 million to improve and update the property, including landscaping and common areas, a news release states. It is also interested in hosting events at the mall as part of its future plans, according to the release.

Victoria Gardens in Rancho Cucamonga is home to over 150 specialty retailers and restaurants including the Chanel store. (File photo by Anjali Sharif-Paul, The Sun/SCNG)

The popular retail destination opened in October 2004 and has since served as one of Southern California’s largest shopping destinations.

The purchase comes after the previous owner, Brookfield Properties and Queensland Investment Corp., listed the mall for sale earlier this month for an undisclosed amount, according to BISNOW, a business-focused news outlet.

Redwood West on Thursday, March 12, announced the finalization of the sale.

Colby Cyburt, a managing partner for Redwood West, said the company has big plans for the mall.

“Victoria Gardens already has a strong mix of national and global brands, and our approach is to thoughtfully evolve that mix over time,” Cyburt said in a Friday, March 13, interview. “We will continue to curate a balanced mix of retail, dining and experiences that serve the region.”

He said there are plans to revamp the town square and secondary plazas throughout the property to help support its pedestrian-focused nature.

The new owner also plans activities and pop-up events, the release states.

Those plans include live music, community gatherings, cultural programs, seasonal events and “overall experiences that will bring the property to life in a constant effort to create reasons for people to gather,” Cyburt said.

Victoria Gardens appears to be the first retail property of its size added to the company’s portfolio.

Rancho Cucamonga Economic Development Director Matt Marquez said Rancho Cucamonga’s been in the sights of several businesses lately.

“We believe that the city is in a prime location,” Marquez said, noting its proximity to the coast, mountains, and the High Desert.

“That remains a benefit for us,” he added, “as well as our demographics and resident income on the higher end, if you will.”

Marquez said these things, in combination with the city’s growth, have made it attractive to those looking to enter the Inland Empire market.

Victoria Gardens attracts at least 14 million visitors annually, Marquez said.

“When you look at the number of visitors it gets on an annual basis, it’s consistently the most-visited lifestyle center within a radius,” he said.

Victoria Gardens has seen its share of luxury retailers attracted to the mall over the past few years.

Some of the most recent openings include a Chanel store — the first in the Inland Empire — and Los Angeles-based Mendocino Farms, which also opened its first Inland area location at Victoria Gardens.

Rancho Cucamonga’s Victoria Gardens mall sells for $530 million Orange County Register

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Rancho Cucamonga’s Victoria Gardens mall sells for $530 million

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