Westwood Financial Acquires Glenwood Park, Strengthening Atlanta Retail Portfolio
24 Julio 2024 - 6:00AM
Business Wire
Westwood Financial, a premier commercial retail real estate
investment firm, is excited to announce the acquisition of Glenwood
Park in Atlanta, GA. This unique high-density, core-plus property,
nestled adjacent to the Atlanta BeltLine in the upscale Glenwood
Park neighborhood, stands out in the Atlanta metropolitan area. The
property's key features include approximately 48,633 square feet of
street-level retail space within a mixed-use development that
includes 375 privately owned condos, townhomes, and 30,000 square
feet of leased office space. At the time of the sale, Glenwood Park
boasted an impressive 90% occupancy rate, a clear testament to its
value and potential.
Mark Bratt, CEO of Westwood Financial, shared his enthusiasm for
the acquisition: "Glenwood Park perfectly aligns with our vision
for dynamic, community-focused retail environments. The diverse mix
of tenants, including the acclaimed Gunshow restaurant by Kevin
Gillespie and the James Beard Award-winning Jeni’s Splendid Ice
Creams, represents the high-quality offerings we aim to provide. We
are excited to integrate this property into our portfolio and
enhance the retail experience for the community.”
Situated in the heart of the Glenwood/Reynoldstown/Grant Park
submarket of East Atlanta, Glenwood Park’s location cannot be
overstated. It is adjacent to the Atlanta BeltLine Eastside Trail,
which attracts two million visitors annually. The Atlanta BeltLine
is the most ambitious transportation and economic development
project in Atlanta’s history and one of the nation's most extensive
urban redevelopment programs.
Additionally, Glenwood Park is surrounded by a vibrant community
with a population of approximately 167,00 within a three-mile
radius and an average household income of $126,000. Glenwood’s
highly walkable design and easy access from I-20 make it an ideal
location for community and regional retailers.
Mark Bratt added, “The strategic location of Glenwood Park and
its proximity to the Atlanta BeltLine will significantly boost
pedestrian traffic and tenant demand, making it a prime destination
for locals and visitors. We are committed to supporting local
businesses and fostering a vibrant community atmosphere.”
About Westwood Financial
Westwood Financial owns, manages, and operates over 125
high-quality shopping centers in top U.S. metropolitan markets,
including Atlanta, Charlotte, Dallas, Denver, Los Angeles, Orlando,
Phoenix, and Raleigh. Top-tier grocers and leading service and
experiential-based operators primarily anchor the centers.
Established in 1970 by Howard Banchik and Steven Fogel, Westwood
Financial is headquartered in Los Angeles, with regional offices in
Atlanta, Dallas, and Phoenix. More information is available at
westfin.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240724400062/en/
Matthew Loving Director of Investor Relations
MLoving@westfin.com