Los Angeles-based Westwood Financial has purchased the Northview Plaza shopping center in Northeast Dallas.
“We are excited to have closed the acquisition of Northview Plaza,” Westwood Financial CEO Mark Bratt said in a statement. “The center’s strategic location and impressive tenant mix align perfectly with our investment strategy.”
Some of Westwood Financial’s other Dallas-area holdings include the Old Town shopping center in Dallas, Village at Preston Hollow in North Dallas, Denton Town Crossing in Denton, Lake Forest Marketplace in McKinney, Legacy Ranch in Frisco and Beach Western Commons in Fort Worth.Founded in 1970s, Westwood Financial owns and operates 125 shopping centers nationwide. The company has regional offices in Dallas, Atlanta and Phoenix.
The Northview Plaza sale is the latest recent purchase of a Dallas-Fort Worth shopping center. More than $941 million inn the area during the first half of 2023, according to estimates from MSCI Inc. While vacancy rates are rising in North Texas’ office and industrial market, retail spaces are in short supply. At midyear, D-FW
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