back

Westwood Financial Sells Orange County Property for $1,250,000

7/30/01
LOS ANGELES, California -- Westwood Financial Corp. sold a two tenant retail center located in Westminster, California at 15191 Beach Boulevard for $1,250,000.  The property was sold to Daniel and Kimberly Seid of Westminster, Calif., who will occupy one of the units as Kimberly Skin, Inc. 

Copy Depot leases 3,905 square feet of the 8,287-square-foot retail center, and Kimberly Skin, Inc. will occupy the remaining 4,382 square feet.  Daniel and Kimberly Seid own other commercial properties in which they operate Kimberly Skin stores.  Kimberly Skin specializes in Asian beauty skincare. 

Larry Kramer of NAI Capital Commercial Real Estate of Encino, Calif., represented the buyers, and Westwood Financial Corp. acted as principal represented in-house by Phillip Duke.

“This sale is consistent with our business plan of disposing of our smaller assets and trading vis-à-vis tax-deferred exchanges into larger shopping centers.  Our current acquisition plan is to purchase grocery anchored retail throughout the west, priced from $10,000,000 to $30,000,000,” said Joe Dykstra, Executive V.P. at Westwood Financial Corp.  “We are currently pursuing grocery anchored and shadow-anchored shopping center acquisitions in Denver, Phoenix, Northern and Southern California.”

Westwood Financial Corp. is currently offering 19 of its shopping centers for sale and has recently added several more properties from its portfolio to its disposition list of properties, and hopes to close about $100 million in acquisitions by year-end.

Westwood Financial Corp., a leading real estate investment company founded in 1970, is located in Los Angeles, California and owns and operates retail properties throughout the western states.

For more information, please contact:

Phillip Duke (310-820-5443)

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