Steve Craig spent 18 years and 125 public hearings turning a 52-acre site between Interstate 5 and the Pacific Ocean into the Outlets at San Clemente, which his company, Craig Realty Group, finally opened in November 2015 after the location had previously been floated for a Nixon presidential library and a Ritz-Carlton that never materialized.
The center’s Spanish-village-themed retail runs to more than 60 stores, planned at up to 500,000 sqft at full buildout, and is the only ocean-facing outdoor outlet destination in Orange County, with several of its restaurants built specifically around Pacific views rather than around the center’s retail traffic.
H&M, Levi’s, Nike, Adidas and Under Armour anchor a roster that leans toward Southern California’s surf and athleisure culture, Sun Diego Boardshop and Vuori among the tenants that would not fit the same way in an inland outlet format.
Craig Realty refinanced the property in January 2024 with $140 million in loans from Pacific Life and MetLife, paying off a Wells Fargo loan and freeing up land the company has flagged for potential housing development alongside the existing retail footprint.
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