Los Angeles Investment Firm Expands North Texas Portfolio With Rockwall Retail Purchase

An investment firm based in Los Angeles has made a notable move in North Texas by acquiring a grocery-anchored shopping center in one of the area's rapidly expanding suburbs.

On September 3, Westwood Financial announced its acquisition of the Shops at Stone Creek in Rockwall, a retail property spanning 80,599 square feet and anchored by a Tom Thumb store. The transaction was finalized on August 22. The details surrounding the transaction remain undisclosed.

The center boasts full occupancy, featuring various service and dining establishments, including Salad and Go, UPS, and Subway.

Westwood Financial has made its inaugural investment in Rockwall, bringing its total count of retail properties in the Dallas-Fort Worth metroplex to 20. The company has consistently developed a portfolio in North Texas that emphasizes grocery-anchored centers, recognized for their durability in the retail real estate market.

Lauren Ball, the Chief Operating Officer of Westwood Financial, stated that the agreement aligns with the company's strategy of focusing on grocery-anchored shopping centers located in the Sun Belt markets. “This acquisition highlights our commitment to high-quality, essential retail properties located in robust growth areas,” Ball stated in a release.

Rockwall, situated east of Dallas along Interstate 30, has experienced a surge in both residential and commercial development recently, driving an increased demand for retail space. Situated in a prime area, The Shops at Stone Creek enjoys the advantages of nearby growing communities and consistent visitor flow driven by its grocery anchor.

In a strategic move, Westwood Financial has made a significant acquisition, reinforcing its presence in the thriving Texas markets amid fierce competition for stabilized retail assets.

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