Westwood Financial Expands Portfolio with New Retail Properties in Austin and Phoenix

Big Moves in Retail: Westwood Financial’s Latest Acquisitions

Ah, the real estate game! You gotta love it. Westwood Financial, the seasoned vet of retail real estate investment firms, just made quite the splash. Based in Los Angeles, they’ve been playing this game for over 50 years. They recently snagged Trails at 620 in Austin, TX, and Paradise Hills in Phoenix, AZ. Combined, these new additions bring 152,824 square feet of primo retail space, further cementing their presence in the Sunbelt.

What’s the Deal with Paradise Hills?

Let’s talk Phoenix. Paradise Hills sits pretty at 32nd St. and Shea Blvd. We’re talking 83,787 square feet of prime retail real estate in the ever-growing Maricopa County. Fun fact: this area has been expanding by nearly 100,000 residents per year since 2018! The property’s near capacity, showcasing a solid line-up of tenants like Ace Hardware, Phoenix Dogs, and the new kid on the block, Pet Supplies Plus.

Located in the bustling Maricopa County, you’ll find a stable mix of tenants offering essential services. Think hardware supplies, a baked artisan bread shop, a nail salon, a barber shop, and more. Did we mention that the property is adjacent to a Walgreens? It’s basically a staple anchor for the whole complex.

Fast-Growing Paradise

Maricopa County isn’t just growing; it’s booming. Home to 4.5 million residents (that’s half of Arizona’s population!), many have household incomes over $138,000. With Paradise Hills almost fully occupied, its stability and desirability are clear.

“Adding Paradise Hills to our portfolio was a no-brainer,” says Mark Bratt, Westwood Financial’s CEO. “The spot is prime with great tenants and new opportunities on the horizon.”

Austin’s Gem: Trails at 620

Next stop: Austin. Trails at 620 is a 69,037-square-foot retail center nestled in the affluent Four Points community. It’s already 77% leased, which screams growth potential. Key tenants include AT&T, Freebirds World Burrito, Black Rock Coffee, and Restore Hyper Wellness.

This spot isn’t just another retail center. It’s in a supply-constrained market, making it a hot ticket. There’s over $500 million in consumer spending within a three-mile radius! And don’t even get us started on the average household incomes—north of $150,000.

The Rising Star: Trails at 620

Trails at 620 enjoys a key location with 2,500 feet of visibility along FM 620. This bustling roadway sees over 25,000 vehicles daily and is the only route within five miles that crosses Lake Austin and the Colorado River.

In the coming months, The Y at Four Points will open its doors here. This new addition will greatly increase foot traffic, thanks to its range of offerings like coworking spaces, a sportsplex, and even an outdoor pool. It’s poised to be a community hub.

“Trails at 620 represents a strategic acquisition,” Bratt continues. “Its high visibility and affluent demographics make it an ideal addition to our portfolio.”

Westwood Financial’s Expanding Empire

Westwood Financial ain’t no rookie. Set to celebrate its 55th anniversary in 2025, the firm manages over 125 properties with a 97% occupancy rate. They’ve got hot spots all across the Sunbelt region.

In Phoenix, their other assets include Camelback Village, Mercado del Rancho, Legacy Village, and Village Plaza. Trails at 620 marks one of their first Austin properties, though they’ve got a big footprint in Dallas with places like Old Town Shopping Center and Village at Preston Hollow.

Key Players in the Deals

Behind every big transaction, there’s a team making it happen. Mindy Korth and JK Jackson from Colliers (Phoenix) teamed up with El Warner and Caitlin Zirpolo from Colliers (Irvine, CA) to represent the seller of Paradise Hills. On the Austin side, Shea Petrick, Chris Gerard, and John Indelli of JLL sealed the deal for Trails at 620.

About Westwood Financial

So, who’s the brains behind this expanding empire? Founded in 1970 by Howard Banchik and Steven Fogel, Westwood Financial owns top-tier shopping centers across major U.S. cities. From Atlanta and Denver to Los Angeles and Raleigh, they’ve got it all. Anchored by leading grocers and service operators, they keep pushing the envelope in retail real estate.

For more scoops on this and future acquisitions, keep your eyes on Business Wire.

Well folks, that’s the news. Westwood Financial is making major moves, and the real estate scene just got a whole lot more interesting!