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Westwood Financial Corp. Acquires 1st Atlanta Area property: $17.250 Million Publix at Cobb Parkway Shopping Center

11/1/05
KENNESAW, GEORGIA – Westwood Financial Corp. has acquired another grocery-anchored shopping center.  Publix at Cobb Parkway, located in a suburb of Atlanta, is a Publix-anchored neighborhood shopping center. The tenants include: Publix, Alisha’s Hallmark, Blockbuster Videos, Great Clips, GNC, Papa John’s Pizza, Subway, Verizon Wireless and The UPS Store.   Publix at Cobb Parkway was developed in 1988.  The property was purchased from Minerva Real Estate Investments, L.L.P, a German Investment Group.  Whitney Knoll and Chris Decoufle of Trammell Crow represented the Seller in the transaction.

“The acquisition of Publix at Cobb Parkway is Westwood Financial Corp.’s first shopping center in the Atlanta area,” said Joe Dykstra, Executive Vice President of Westwood Financial Corp.  “We are focused on acquiring neighborhood shopping centers that are anchored by the #1 or #2 grocery store in the properties MSA.  Publix is the industry leading grocery store chain in the Southeast and have 122 locations in Atlanta. We believe that the Publix at Cobb is the dominant neighborhood shopping center in its trade area.  We expect to build a portfolio of at least 10 or more shopping centers in the Atlanta MSA within 3 years.”

The acquisition of Publix at Cobb Parkway is consistent with Westwood Financial Corp.’s program of acquiring well located, institutional quality grocery-anchored shopping centers in the Western United States, Florida, Georgia, and Texas.  Westwood Financial Corp. currently owns shopping centers in California, Colorado, Washington, Nevada, Georgia, Arizona, and Texas.  Westwood Financial Corp.’s recent acquisitions include San Ysidro Village in San Diego, California; Village of Preston Hollow, anchored by Albertsons, in Dallas, Texas; Lovers Lane Station, anchored by Office Max in Dallas, Texas; Olympiad Plaza, anchored by Albertsons, in Mission Viejo, California; The Pinnacle of Scottsdale, anchored by Safeway, in north Scottsdale, Arizona; and Village Center West, anchored by King Soopers, in Denver, Colorado. Westwood Financial Corp. has the ability to purchase all-cash and close in thirty days.

Westwood Financial Corp. is headquartered in Los Angeles with offices in Phoenix and Sacramento and owns and operates more than 84 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