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Westwood Financial Sells another Orange County Property for $2,250,000

11/16/01
LOS ANGELES, California – Westwood Financial Corp. sold a 16,195 square-foot retail center located in Anaheim, California at the northeast corner of Beach Boulevard and Lincoln Avenue for $2,250,000.  The property was sold to Anaheim Redevelopment Agency, who has plans of redeveloping the subject property and surrounding area.

The Buyer acted as principal represented in-house by Elisa Stipkovich, Westwood Financial Corp. also 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 within the last three months has added four shopping centers, Terravita Marketplace in Scottsdale, Arizona, Gateway Shopping Center in Mission Viejo, California, Eastlake Village South in Chula Vista, California, and Sheridan Crossing in Westminster, Colorado, to its portfolio.

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