PHOENIX – February 13, 2014 – (RealEstateRama) — Westwood Financial Corp., a national owner-operator of shopping centers, has completed the remodel of North Park Plaza shopping center, located at 5020 W. Osborn Rd., in Phoenix.
Located in central Phoenix, the center is anchored by Safeway and features a strong mix of regional and national tenants, including Frazee Paint, Peter Piper Pizza, Subway and Great Clips.
“A remodel of this shopping center was needed to give it a more contemporary look as the area is gentrifying and there is a great deal of redevelopment of properties in the neighborhood,” said Kenneth Loughran, senior vice president at Westwood Financial Corp. “The improvements made to the property include a new façade, columns wrapped in stone, refreshed landscaping and a two-tone paint scheme.”
North Park Plaza, which is situated on seven acres of land, consists of three buildings with 13 shops, measuring a total of 101,361 square feet.
Westwood Financial Corp. is one of the largest privately held owner-operators of retail properties in the U.S., with a track record spanning 44 years. Based in Los Angeles with satellite offices in Atlanta, Dallas and Scottsdale, Ariz., the firm currently has a portfolio consisting of more than 100 shopping centers and retail properties in 30 metropolitan markets. Founded in 1970, the firm has evolved into a fully integrated real estate company that acquires, leases, and manages its real estate portfolio. The firm implements an acquisition strategy that focuses primarily on mature neighborhood, grocery anchored shopping centers with portfolio holdings in Arizona, California, Colorado, Florida, Georgia, Illinois, Kansas, New Mexico, Nebraska, Nevada, New York, North Carolina, South Carolina, Texas, Utah, Washington and Wisconsin. For more information, please visit www.westfin.com.