Segerstrom is a family business incorporate as a major real estate company in Orange County (along with the Irvine Company and the O'Neill family), especially in the city of Costa Mesa. Swedish immigrant Carl Segerstrom started out by buying a large lima bean farm in 1900. In 1967 construction began on the jewel in their crown, South Coast Plaza. The enormous shopping mall is one of the highest grossing in the country, with over 300 stores and around one billion dollars in annual sales. The family's monetary donations provided for the construction of the Orange County Performing Arts Center, on land also donated by the family/company. Besides the performing arts center the family/company gives heavily to the local Newport-Mesa school district. The family also owns land rights to much of the expanding commercial office space around the mall. Though they have sold the property rights to the residential areas south of the 405 Freeway, they still hold the mineral rights.