Westwood Financial, a leading retail real estate investment firm based in Los Angeles, has announced the successful sale of Quorum Plaza, a two-story, 77,319-square-foot retail destination in Addison, Texas. This marks another significant step in Westwood Financial’s strategic portfolio curation, focusing on acquiring and operating top-tier neighborhood centers in key markets across the U.S.
Quorum Plaza, located at 4900-4980 Belt Line Road in Addison, Texas, sits within the highly sought-after “Platinum Corridor” of the Dallas-Fort Worth-Arlington metropolitan area, just 20 minutes north of downtown Dallas. The property is home to a diverse mix of tenants, including national brands like Verizon, The Melting Pot, 7-Eleven, and The Improv. These tenants offer a combination of dining, retail, and entertainment options, which have made Quorum Plaza a well-trafficked and popular location for both locals and visitors. At the time of the sale, the property was operating at solid occupancy levels, with over 839,000 annual visitors.
“Quorum Plaza represents a strategic step in our ongoing efforts to curate our portfolio and focus on acquiring and operating best-in-class neighborhood centers in key markets,” said Lauren Ball, Chief Operating Officer of Westwood Financial. “The property’s prime location and strong tenant mix make it a valuable asset as we continue refining our portfolio and focusing on high-performing, strategically-located retail centers.”
Westwood Financial has long had a significant presence in the Dallas-Fort Worth area, with properties such as Old Town Shopping Center, Village at Preston Hollow, and Legacy Ranch.
The sale of Quorum Plaza is indicative of the firm’s ability to identify and divest assets that align with its long-term strategy. It also highlights the continued strength of the Dallas-Fort Worth market, which remains one of the most dynamic and sought-after retail hubs in the U.S.
“This sale reflects our commitment to refining our portfolio while continuing to grow our footprint in the Texas market,” said Juyuan Wei, Chief Financial Officer of Westwood Financial. “We’ve recently expanded our presence in Texas with the acquisition of Trails at 620, a 69,037-square-foot retail center in Austin. This acquisition marks one of the firm’s first properties in the Austin market, and it presents an exciting opportunity for growth in a supply-constrained submarket.”
The sale of Quorum Plaza is also notable for Westwood Financial’s ongoing expansion across the Sunbelt region. The firm’s portfolio of more than 125 properties boasts a high occupancy rate of 97%, with a strong concentration in major metropolitan areas such as Atlanta, Charlotte, Dallas, Denver, Los Angeles, Orlando, Phoenix, and Raleigh. Westwood Financial has established itself as a dominant player in the retail real estate market, focusing on high-quality shopping centers anchored by top-tier grocers, service providers, and experiential operators.
Founded in 1970 by Howard Banchik and Steven Fogel, Westwood Financial has built a strong reputation for acquiring and managing premier retail properties across the country. The company will celebrate its 55th anniversary in 2025, marking over five decades of expertise in the real estate investment and management space. With regional offices in Dallas, Phoenix, and Atlanta, Westwood Financial continues to expand its reach, providing value for investors, tenants, and communities alike.
“The successful sale of Quorum Plaza, along with our recent acquisitions in Texas, demonstrates our ability to identify high-value assets and execute our long-term strategy effectively,” said Ball. “As we look to the future, Westwood Financial is well-positioned to continue expanding its presence in top U.S. markets while remaining committed to providing best-in-class retail experiences.”
The transaction was facilitated by JLL Investment Sale Advisory, a leading global real estate services firm. With this sale, Westwood Financial is further cementing its reputation as a top-tier retail real estate investment firm, well-equipped to thrive in an ever-changing retail landscape. The firm’s ongoing efforts to refine its portfolio, coupled with its strategic acquisitions and dispositions, continue to position it for success in the competitive retail real estate market.
