Westwood Financial Announces First Quarter 2025 Results

LOS ANGELES--(BUSINESS WIRE)--Westwood Financial, a leading commercial retail real estate investment firm with more than 55 years of experience, announced updates today on its financial and operational results for the three months ended March 31, 2025, which included:

First Quarter 2025 Highlights

• Executed 15 new leases totaling 26,000 square feet and 40 renewals totaling 208,000 square feet
• Achieved total leased percent of 97.3% vs. 96.8% same quarter end 2024 (+50 bps)
• Maintained an inline shop leased percent of 94.3% vs. 94.6% same quarter end 2024 (-30 bps)
• Achieved a total occupancy percent of 95.9% vs. 94.0% same quarter end 2024 (+190 bps)
• Comparable new rent spreads were 9.1%; renewal rent spreads were 6.3%
• Acquired one property within the Westwood Property Fund – Eastway Square in Charlotte, NC

“Westwood entered 2025 with strong operational momentum, and our first-quarter results underscore the strength and stability of our platform. As the Company continues to optimize portfolio performance and drive operational efficiency, we remain disciplined and highly selective in our capital deployment, executing only on opportunities that are accretive and aligned with our valuation strategy,” stated Juyuan Wei, Chief Financial Officer.

Westwood continues to expand its strong pipeline of acquisition opportunities across its core and adjacent growth markets, targeting high-performing, necessity-based retail assets aligned with its long-term investment strategy. Assets are evaluated for inclusion within the company’s funds or as individual syndications, depending on strategic alignment.

In the first quarter, the Company acquired one property, Eastway Square, a 130,156 square-foot, Food Lion grocery-anchored center in Charlotte, NC, for the Westwood Property Fund. “Eastway Square is a high-performing, necessity-based asset within one of our core growth markets. Our execution on this transaction reflects our disciplined sourcing strategy and our focus on assets that enhance portfolio performance and broader investment objectives,” said Mr. Wei.

The company reported no dispositions during the first quarter of 2025.

The company also continues to narrow the gap between the portfolio’s total leased and occupancy metrics, achieving 97.3% and 95.9%, respectively. Notably, Magnolia Vineland, a grocery-anchored center in the Los Angeles MSA, reached 100% leased during the quarter through strategic tenant execution. “One of Westwood’s biggest initiatives heading into the new year was enhancing operational efficiency by deepening our tenant relationships through proactive renewals and competitive deal structures, while still attracting new, high-performing tenants that strengthen our merchandising mix,” stated Lauren Ball, Chief Operating Officer. “This operational discipline not only streamlines costs and reduces downtime, but directly translates to same-store NOI growth and long-term value. By operating with precision across the portfolio, we’re able to deliver enduring and measurable results,” stated Mrs. Ball. As Westwood progresses further into 2025, the Company will look to further drive value to the portfolio while retaining strong relationships with our tenants and capital partners.

About Westwood Financial

Westwood Financial, a more than 55 year old company, owns, manages, and operates 120+ high-quality shopping centers in top U.S. metropolitan markets, including Atlanta, Charlotte, Dallas, Denver, Los Angeles, Orlando, Phoenix, and Raleigh. The centers are primarily anchored by top-tier grocers and leading service and experiential-based operators. Established in 1970, Westwood Financial is headquartered in Los Angeles, with regional offices in Atlanta, Dallas, and Phoenix. More information is available at westfin.com.