RETAILING

Rancho Santa Margarita’s first neighborhood shopping center, Mercado del Lago, has signed nearly 25 tenants.

The 10.5-acre, 115,000-square-foot shopping center, which is now being built, will include a Ralphs supermarket, Security Pacific Bank, Mobil Oil and a Payless Drug Store, said officials with the Santa Margarita Co., developer of the 5,000-acre planned community.

Anaheim-based Carl Karcher Enterprises has also signed a lease and plans to build a 3,200-square-foot, free-standing Carl’s Jr. at the center.

The grand opening is planned for mid-1989. It is being developed in a joint venture with SDC Development.

Rancho Santa Margarita is between Mission Viejo and Coto de Caza in the southeastern county.