Westwood Financial Corp. Purchases $8.9 Million Retail Center in Southeast
Torrance, CA – May 3, 2012 – (RealEstateRama) — Westwood Financial Corp., one of the largest owner-operators of shopping centers in the U.S., has purchased Wesleyan Station, an 86,631-square-foot retail center in Macon, Ga., for $8.9 million from a private seller.
“The center’s tenant mix creates a convenient, major retail hub for the growing number of people in the area,” said Joe Dykstra, executive vice president of Westwood Financial Corp. “This acquisition perfectly fits into what Westwood Financial Corp., is looking to accomplish in the Southeast. Our vision is to continue a history of success that will position Wesleyan Station as a dominant center in the market.”
Located at 4650 Forsyth Road, the 20-suite, 92-percent leased Wesleyan Station was built in 1986 and remodeled twice in 1998 and 2009. Tenants include Kroger, Tuesday Morning, Starbucks, El Sombrero Mexican Restaurant, Cricket Wireless, ASP Pool Spa, LaBerry Yogurt and Macon Crossfit.
Westwood Financial will utilize a hold strategy on the property, which is located in an area of high residential growth. The seller was represented by Chris Decoufle and Craig Taylor of CB Richard Ellis.
About Westwood Financial Corp.
Westwood Financial Corp., is one of the largest privately held owner-operators of retail properties in the U.S., with a track record spanning 40 years. Based in Los Angeles with satellite offices in Atlanta, Dallas and Scottsdale, Ariz., the firm currently has a portfolio consisting of more than 100 shopping centers and retail properties in 24 metropolitan markets. Founded in 1970 by Steven Fogel and Howard Banchik, the firm has evolved into a fully integrated real estate company that acquires, leases, and manages its real estate portfolio. The firm implements an acquisition strategy that focuses primarily on mature neighborhood, grocery anchored shopping centers with portfolio holdings in Arizona, California, Colorado, Florida, Georgia, Illinois, Kansas, Nebraska, Nevada, New York, North Carolina, South Carolina, Texas, and Washington. For more information, please visit www.westfin.com.
