back

Westwood Financial Corp. Buys Denver Shopping Center for $9.4 Million

2/5/01
DOUGLAS COUNTY, Colorado -- Westwood Financial Corp. purchased a King Soopers shadow-anchored retail center for $9,350,000.  The retail shopping center is a part of the Highlands Ranch Village Center located at the southeast corner of S. University Avenue and N. Highlands Ranch Pkwy. in Highlands Ranch, a 22,000-acre master-planned community of Douglas County.

"Over the past several years, Highlands Ranch has been one of the fastest growing master-planned residential communities in the U.S., and we are very pleased with this purchase, making it our third acquisition in the Highlands Ranch community,” said Joe Dykstra, executive at Westwood Financial.  “We’re now owners of portions of three of the five grocery-anchored shopping centers in Highlands Ranch, and we hope eventually to own all the grocery anchored retail properties in the area."

Major tenants at Highlands Ranch Village Center include the Kroger-owned King Soopers Supermarket, Ace Hardware, T.J. Maxx and OfficeMax.  The property was constructed this year and is 100% occupied, and tenants include Paper Warehouse, Starbucks, Subway, Great Clips, Panda Express, a dental office and a chiropractor.

Ron Urgitus of CB Commercial in Denver represented the Seller, and the Buyer represented itself in the transaction as principal led by Joe Dykstra.

Westwood Financial Corp., a commercial real estate investment firm, is headquartered in Los Angeles, and through a series of limited partnership owns and operates more than 100 properties throughout the Western United States.

For more information, please contact:

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