In the News

Raleigh, NC – December 22, 2010 – Westwood Financial Corp. has acquired Lynnwood Collection, an 86,662 square foot neighborhood shopping center anchored by a Kroger. The shopping center is located on the southeast corner of Creedmoor Road and Lynn Road in Raleigh, North Carolina. Tenants at Lynnwood Collection include Kroger, LA Boxing, Vincent’s, Fred Astaire Dance Studio, Jenny Craig, Smoker Friendly, Liberty Tax Services, Verizon, The UPS Store, Great Clips, Enterprise, Yoo’s Cleaners, Wang’s Kitchen, Penn Station East Coast Subs, Sweepstakes, Vivid Tax and Image Wear, My Nails and PizzaAmerica. Rob Carter and David Webb of Berkeley Capital Advisors represented the Seller in the transaction.

“We try and buy great locations and this real estate has strong densities and Kroger has seen increased sales in each of the last 5 years,” said Joe Dykstra, Executive Vice President of Westwood Financial Corp. “Lynnwood Collection is positioned at one of the best intersection in its trade area, and is a well established shopping center that has been serving the community for over twenty years.”

Lynnwood Collection is consistent with Westwood Financial Corp’s. business plan of acquiring well located neighborhood shopping centers. Westwood Financial Corp. has acquired over 30 properties in the last 3 years in Florida, Georgia, Texas, Colorado, California, Arizona, Kansas, and Nebraska, North Carolina and South Carolina. Westwood Financial Corp. focuses its acquisition efforts on acquiring mature neighborhood shopping centers anchored by the #1 or #2 grocery stores in the properties’ MSA, and urban anchored or unanchored retail properties in major cities.

Headquartered in Los Angeles, Westwood Financial Corp has offices in Phoenix, Dallas and Sacramento and owns and operates over 100 neighborhood, community and specialty retail shopping centers covering 25 major markets in 14 states. Westwood Financial Corp. is a fully integrated real estate company that acquires, leases, and manages its real estate portfolio.

For more information, please contact:

Joe Dykstra
Executive Vice President
310-820-5443
jdykstra@westfin.com

Scott Henard
Vice President | Acquisitions
972-284-0925
shenard@westfin.com