Torrance, CA – October 29, 2013 – (RealEstateRama) — Westwood Financial Corp., a national owner-operator of shopping centers, is celebrating the opening of a new, state-of-the-art LA Fitness in 45,000 square feet at the Old Town Shopping Center, located at 5500 Greenville Ave. in Dallas, Texas.
The new 15 year lease is LA Fitness’ 50th location in Texas. LA Fitness Inc., was represented by Jon Zikos at Venture Commercial Real Estate, LLC, and the Landlord was represented by the Weitzman Group.
This new lease represented a unique opportunity to incorporate LA Fitness, the nation’s premier fitness operator, into Old Town’s dynamic tenant mix, which includes Tom Thumb, PetSmart, Michael’s and Cost Plus World Market, and some of the most successful restaurants in Dallas. The unique layout of the center was perfect to include LA Fitness. “The location of the center in the heart of Dallas, on Greenville Avenue, in proximity to huge daytime populations, the Park Cities, SMU and the Village Apartments were the key components that made this location perfect for LA Fitness,” said Bill Horner, Sr. Vice President/Chief Real Estate Officer for LA Fitness. “The addition of LA Fitness is not only good for the community, but gives the center an excellent new dimension.”
LA Fitness celebrated its grand opening for this facility October 19. This facility offers a full indoor basketball court, state-of-the-art cardio equipment, free weights and modern machines, locker room facilities, dry sauna, a 75-feet heated indoor pool, indoor spa, group exercise classes, cycling studio, kids club designated area, juice bar, personal trainers and free parking.
One of the most recognized open air centers in Dallas since its original development in the 1960, Old Town Shopping Center recently underwent extensive remodeling, including new façade and roof enhancements.
About Westwood Financial Corp.
Westwood Financial Corp. is one of the largest privately held owner-operators of retail properties in the U.S., with a track record spanning 40 years. Based in Los Angeles with offices in Atlanta, Dallas and Scottsdale, Ariz., the firm currently has a portfolio consisting of more than 115 shopping centers and retail properties in 26 metropolitan markets. Founded in 1970 by Steven Fogel and Howard Banchik, the firm has evolved into a fully integrated real estate company that acquires, leases, and manages its real estate portfolio. The firm implements an acquisition strategy that focuses primarily on mature neighborhood, grocery anchored shopping centers with portfolio holdings in Arizona, California, Colorado, Florida, Georgia, Illinois, Kansas, Nebraska, Nevada, New Mexico, New Yo rk, North Carolina, South Carolina, Texas, and Washington. For more information, please visit www.westfin.com.