EDENS Acquires Erewhon-Anchored Summit at Calabasas, Expanding California Retail Portfolio

EDENS, a privately held national owner, operator and developer of retail real estate, announced Oct. 5 that it has acquired The Summit at Calabasas, an approximately 72,000-square-foot, grocery-anchored retail property in Calabasas, California.

The acquisition expands the EDENS California portfolio to 13 properties totaling approximately 2.1 million square feet and $1.5 billion in asset value, according to the company.

The Summit at Calabasas: Property Details

The Summit is located just off U.S. 101 between the San Fernando and Conejo valleys, at 26767 Agoura Road in Calabasas. EDENS said the center serves one of Southern California's most affluent communities and draws customers from Calabasas, Oak Park, Westlake Village, Malibu and West Hills.

The property was built in 2010. Erewhon anchors the center, which also includes Philz Coffee, Exer Urgent Care, Crane Pilates and a collection of restaurants alongside wellness and service businesses. Earlier marketing materials also listed Chipotle, Jersey Mike's, Industry Bar & Grill, Universal Appliance & Kitchen Center and Home Consignment Center as tenants, though the current roster may have changed. Third-party listings report the center's size at between roughly 70,400 and 71,600 square feet, compared with the approximately 72,000 square feet cited by EDENS.

Jami Passer on the Investment Strategy

"The Summit is an irreplaceable property in one of Southern California's most desirable communities, anchored by Erewhon, one of the region's most relevant grocery brands," said Jami Passer, Chief Investment Officer at EDENS. "It reflects the high-quality real estate central to our long-term investment strategy. We are excited to become part of the Calabasas community and build on the property's success."

EDENS said its market knowledge and longstanding retailer relationships will help the company evolve the property. Continued investment and merchandising tailored to the surrounding community are intended to strengthen The Summit's foundation for the future, the company said.

EDENS' Growing California Footprint

The Calabasas purchase follows EDENS' recent acquisition of The Forum in Carlsbad. The company's California holdings also include The Shops at La Jolla Village, Long Beach Exchange and Strawberry Village in Marin County.

Nationally, EDENS owns, develops and stewards a portfolio of 93 open-air retail and mixed-use destinations in high-growth markets, reaching an estimated 15 million people daily. The company was established in 1966. EDENS also announced approximately $850 million in equity commitments shortly before the Calabasas acquisition.

Based on EDENS' disclosed totals, its California portfolio averages approximately 161,500 square feet per property and roughly $714 per square foot of portfolio value. Those figures are portfolio-wide averages and do not reflect the valuation or purchase price of The Summit.

Market Context for Grocery-Anchored Retail

The deal comes as well-located, grocery-anchored retail remains one of the more sought-after segments of the commercial property market. Orange County retail vacancy stood at 3.8% in the second quarter of 2026, with 433,000 square feet of net absorption against 7,400 square feet of deliveries. Average asking rents were $39.51 per square foot, and retail sales averaged $441 per square foot at an average 5.5% cap rate.

A separate assessment of the Southern California retail market put vacancy across Los Angeles, Orange County and San Diego at approximately 4% to 6%, with prime assets trading near $551 per square foot and cap rates compressing by roughly 80 basis points year over year. In older Southern California retail corridors, vacancy remains higher, at roughly 8% to 12%, while grocery-anchored centers with strong co-tenancy have reportedly achieved food-service and service rents of $3.50 to $4.50 per square foot.

Those figures cover different geographies, asset types and measurement conventions and are not directly comparable to The Summit.

Sources

• EDENS press release: https://edens.com/press/press-releases/edens-acquires-the-summit-at-calabasas/