LOS ANGELES--(BUSINESS WIRE)--Jul 13, 2023--
Westwood Financial, a leading commercial retail real estate investment firm, is pleased to announce the recent sales of two of its assets, Sycamore Plaza and Yosemite Center. These successful transactions highlight Westwood Financial's commitment to delivering exceptional value to its investors and the strategic execution of its investment strategy.
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Sycamore Plaza is a grocery shadow-anchored center located approximately 20 minutes from downtown Albuquerque, NM. (Photo: Business Wire)
Sycamore Plaza, a grocery shadow-anchored center located at 8000 Academy Road NE, Albuquerque, NM, proved to be an attractive investment opportunity. Located approximately 20 minutes from downtown Albuquerque, the center benefits from its proximity to a high concentration of residential developments. A population of over 123,000 and an impressive average household income of over $103,000 within a 3-mile radius further enhance the shopping center’s appeal.
Anchored by a Petsmart and shadow anchored by a Smith's Grocer (Kroger) and a Walmart Supercenter, Sycamore Plaza encompasses 37,442 square feet. Notable national tenants such as Sally Beauty, Einstein Bros. Bagels, Stretch Zone, GNC, Super Cuts, and GameStop contributed to the strong, diversified tenant mix. At the time of the sale, the center was fully occupied, emphasizing its desirability among retailers, consumers, and investors.
Yosemite Center, a shopping center located at 6570 South Yosemite Street in Greenwood Village, Colorado, spans 23,847 square feet and features prominent tenants Chipotle, Jimmy John’s, Advance Auto Parts, Massage Envy, The Joint, and D1 Training. Its 100% occupancy rate and strategic location adjacent to the Denver Tech Center made it a particularly desirable asset.
Mark Bratt, CEO of Westwood Financial, expressed his satisfaction with the recent transactions, stating, "The sale of Sycamore Plaza and Yosemite Center reflects our ongoing commitment to optimizing our portfolio and delivering superior value to our investors. Our ability to identify prime retail properties in desirable locations while attracting prominent tenants demonstrates the strength and expertise of our team. We remain dedicated to delivering outstanding results and maintaining our position as a leading commercial retail real estate investment firm."
CBRE National Retail Partners, leveraging their extensive expertise and industry knowledge, played a crucial role as sales advisors representing Westwood Financial in both transactions. Their involvement ensured seamless sales processes, further enhancing the successful outcomes.
About Westwood Financial
Westwood Financial owns, manages, and operates over 125 high-quality shopping centers in top U.S. metropolitan markets, including Atlanta, Charlotte, Dallas, Denver, Los Angeles, Orlando, Phoenix, and Raleigh. Top-tier grocers and leading service and experiential-based operators primarily anchor the centers. Established in 1970 by Howard Banchik and Steven Fogel, Westwood Financial is headquartered in Los Angeles, with regional offices in Atlanta, Dallas, and Phoenix. More information is available at westfin.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230713941225/en/
CONTACT: Matthew Loving
Director of Investor Relations
MLoving@westfin.com
KEYWORD: UNITED STATES NORTH AMERICA COLORADO CALIFORNIA NEW MEXICO
INDUSTRY KEYWORD: REIT RETAIL COMMERCIAL BUILDING & REAL ESTATE SUPERMARKET CONSTRUCTION & PROPERTY
SOURCE: Westwood Financial
Copyright Business Wire 2023.
PUB: 07/13/2023 03:32 PM/DISC: 07/13/2023 03:28 PM
http://www.businesswire.com/news/home/20230713941225/en
