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Westwood Financial Corp. Purchases Sheridan Crossing Shopping Center for $14,400,000

12/31/01
Los Angeles, CA – Westwood Financial Corp. has purchased Sheridan Crossing shopping center, a 132,903 square foot neighborhood shopping center situated on a 15-acre parcel at the southeast corner of West 120th Avenue and North Sheridan Boulevard in Westminster, Colorado. It is strategically located between the region’s two primary freeways, US Highway 36 and Interstate 25.

Approximately four miles west of Sheridan Crossing is the Interlocken Advanced Technology Center, home to the worldwide headquarters of Level 3 Technologies, Corporate Express, and Sun Microsystems Corporate Campus. Interlocken houses 30,000 office workers with more than 40 giant corporate users, as well as a full-service, 390-room Omni Hotel and Conference Center, 27-hole championship golf course and a regional transportation hub - including a general aviation airport.  Other area employers include Lucent Technologies, AT&T, IBM, Zytech, and Geneva Pharmaceuticals.

Sheridan Crossing is comprised of anchor tenants Albertsons, Stein Mart, Walgreens, and 24 Hour Fitness.  In-line shops include national tenants Papa John’s, H & R Block, Cost Cutters, Bath & Body Works, Starbucks and Einstein Bros. Bagels. 

“The area of Westminster began as the marshy plains of our American heritage, but has now become a bustling center of Colorado’s economic industry. The city joins with neighboring Denver and Boulder to create an incredibly successful metropolitan force,” says Joe Dykstra, executive of Westwood Financial. “We are excited for the shopping center’s bright future of committed service to the community.”

The Property was purchased from Sheridan Crossing Shopping Center, LLLP. Dave Tilton of Frederick Ross Company represented the seller.

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 with large holdings in the Los Angels, Phoenix and Denver areas.

For more information, please contact:

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