Westwood Financial, a 55-year old retail real estate investment firm based in Los Angeles, announced the acquisition of Eastway Square, a 130,156 square-foot grocery-anchored neighborhood center in Charlotte. The purchase underscores Westwood Financial’s commitment to investing in properties in high-growth markets across the Sunbelt.
Eastway Square is anchored by Food Lion, which recently completed interior and exterior renovations that demonstrate its strong performance and long-term commitment to the location. In addition to Eastway Square, Westwood Financial owns several top-performing grocery-anchored properties in Charlotte, including Prosperity Village Square, Steele Creek Crossing, Steelecroft Shopping Center, and The Arbors at Mallard Creek.
“As we actively seek new properties across the Sunbelt, we are strategically identifying opportunities in areas with robust population growth and investment potential,” said Lauren Ball, Chief Operating Officer for Westwood Financial in a statement. “We are confident that applying our proven, operational expertise will cement Eastway Square into a leading grocery-anchored shopping center.”
Located at the intersection of Eastway Drive and Central Avenue, Eastway Square is strategically positioned in Charlotte. Notably, the center has access to over 311,000 residents within a five-mile radius with an attractive average household income above $112,000. Eastway Square is in close proximity to many of Charlotte’s vibrant neighborhoods, including Plaza Midwood, Uptown, and Noda.
“Expanding our presence in Charlotte aligns with our strategic growth plans,” said Juyuan Wei, Chief Financial Officer at Westwood Financial. “Grocery-anchored retail continues to thrive, and we’re eager to pursue additional opportunities that strengthen our portfolio.”
Eastway Square is currently leased to notable tenants including Ross, Food Lion, America’s Best, Papa Johns, Subway, WingStop, Rainbow, Dental Works, Hibbett Sports, Showmars, and more. Berkley Capital Advisors facilitated the sale.
As Westwood Financial celebrates its 55th anniversary, the firm continues to expand its portfolio, managing over 125 properties with a dominant presence in the Sunbelt region.
