Westwood Financial Buys 120 KSF Retail Center in Dallas

The grocery-anchored asset previously traded in 2017.

Northview Plaza. Image courtesy of Westwood Financial

The grocery-anchored Northview Plaza in Dallas. Image courtesy of Westwood Financial

Westwood Financial has purchased Northview Plaza, a 120,000-square-foot grocery-anchored retail center in Dallas, in an off-market transaction. Stockbridge Capital Group was the seller, according to CommercialEdge data. At the time of the deal, the asset was 89 percent occupied.

Stockbridge acquired the property back in 2017 for $17.3 million, the same source shows. Last year, the shopping center became subject to an $11 million bridge loan originated by Old National Bank.

Completed in 1983, Northview Plaza encompasses three buildings on an 8.1-acre lot. Anchored by Kroger, the center features a diverse mix of tenants, such as medical, fitness, personal services and food establishments. Other tenants at the property include Petco, McDonald’s, Great Clips, T-Mobile, End Zone Bar + Grill, White Rock Chiropractic, Total Men’s Primary Care and Community Dental Partners.

Located at 10677 E. Northwest Highway in the Lake Highlands submarket, the property is strategically located near Interstate 635 in the rapidly developing L Streets neighborhood. The Dallas Arboretum and Botanical Garden and several residential communities are within walking distance of the neighborhood center.

In a recent deal, Westwood sold Ahwatukee Mercado, a 125,716-square-foot, grocery-anchored retail center in Phoenix, for $14 million.

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