Westwood Financial Acquires Eastway Square in Charlotte

Author

Slice of Real Estate Team
February 07, 2025

Key Highlights:

  • Westwood Financial, a 55-year-old retail real estate firm, acquires Eastway Square, a 130,156 sq. ft. grocery-anchored center in Charlotte.

  • Food Lion, the center’s anchor tenant, recently renovated its interior and exterior, demonstrating long-term commitment.

  • The property is strategically located at Eastway Drive and Central Avenue, with 311,000 residents within a 5-mile radius and an average household income of $112,000+.

  • Westwood Financial owns several grocery-anchored properties in Charlotte, reinforcing its investment in high-growth Sunbelt markets.

  • Berkley Capital Advisors facilitated the sale.

Source: Business Wire

Notable Quotes:

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“As we actively seek new properties across the Sunbelt, we are strategically identifying opportunities in areas with robust population growth and investment potential.”

Lauren Ball, Chief Operating Officer at Westwood Financial
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“Expanding our presence in Charlotte aligns with our strategic growth plans. Grocery-anchored retail continues to thrive, and we’re eager to pursue additional opportunities that strengthen our portfolio.”

Juyuan Wei, Chief Financial Officer at Westwood Financial

Why This Matters:

Westwood Financial’s acquisition of Eastway Square highlights its strategic focus on high-growth Sunbelt markets, particularly in Charlotte, one of the fastest-growing U.S. cities. With a strong mix of national tenants and a prime location, the investment reinforces the firm’s commitment to grocery-anchored retail, a sector that continues to perform well amid changing economic conditions. As Westwood Financial celebrates 55 years in the industry, this acquisition marks another milestone in its expansion strategy.