Westwood Financial sells center in Lone Tree, Colo.
Lone Tree, Col. -- Westwood Financial Corp. has sold the 34,749-sq.-ft. Heritage Hills Shopping Center in Lone Tree, Colo., as part of its efforts to strengthen its strategic investment in new Southeastern U.S. markets. The retail property, located at 9227-9231 Lincoln Ave., was in Westwood Financial’s portfolio for 11 years and sold to Carlisle Properties for $11.4 million.
“We see an opportunity to expand our scope in the Southeast utilizing the capital gained from this transaction,” said Joe Dyksra, executive VP Westwood Financial Corp. “While our immediate plans will be to own the anchor space, Westwood Financial will also be re-deploying funds gained from this particular transaction into the Southeast market.”
The 18-unit Heritage Hills Shopping Center was built in 1999 and currently is 96% leased.