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Westwood Financial Sells another Southern California Shopping Center Property for $1,075,000

10/10/02
LOS ANGELES, California – Westwood Financial Corp. sold a 6,296 square-foot shopping center located in Montebello, California on the northwest corner of Olympic Boulevard Garfield Avenue, for $1,075,000.  The property was sold to Morad Ardestani of Los Angeles, Calif. 

The Buyer was represented by Kevin Hakimian of Paramount Properties, and Westwood Financial Corp. acted as principal represented in-house by Phillip Duke.

“This is our fifteenth disposition of the year and the twenty-sixth of the last two years.  We expect to complete ten more sale transactions by year end.  Our Acquisition plan continues to be the acquisition of 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, Dallas, Northern and Southern California.”

Within the last year Westwood Financial Corp. has acquired seven shopping centers; Gateway Shopping Center in Mission Viejo, California, Sheridan Crossing anchored by Albertsons in Westminster, Colorado, Terravita Marketplace anchored by Albertsons & Walgreens in Scottsdale, Arizona, Eastlake Village South anchored by Vons & Rite Aid in San Diego, California, Palizzi Marketplace anchored by King Soopers in Denver, Colorado, Village Center West Marketplace anchored by King Soopers in Denver, Colorado, and Raleys Center, in Sacramento, California. 

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:

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