Westwood Financial, a premier commercial retail real estate investment firm, is excited to announce the acquisition of Glenwood Park in Atlanta, GA. This unique high-density, core-plus property, nestled adjacent to the Atlanta BeltLine in the upscale Glenwood Park neighborhood, stands out in the Atlanta metropolitan area. The property's key features include approximately 48,633 square feet of street-level retail space within a mixed-use development that includes 375 privately owned condos, townhomes, and 30,000 square feet of leased office space. At the time of the sale, Glenwood Park boasted an impressive 90% occupancy rate, a clear testament to its value and potential.
Mark Bratt, CEO of Westwood Financial, shared his enthusiasm for the acquisition: "Glenwood Park perfectly aligns with our vision for dynamic, community-focused retail environments. The diverse mix of tenants, including the acclaimed Gunshow restaurant by Kevin Gillespie and the James Beard Award-winning Jeni’s Splendid Ice Creams, represents the high-quality offerings we aim to provide. We are excited to integrate this property into our portfolio and enhance the retail experience for the community.”
Situated in the heart of the Glenwood/Reynoldstown/Grant Park submarket of East Atlanta, Glenwood Park’s location cannot be overstated. It is adjacent to the Atlanta BeltLine Eastside Trail, which attracts two million visitors annually. The Atlanta BeltLine is the most ambitious transportation and economic development project in Atlanta’s history and one of the nation's most extensive urban redevelopment programs.
Additionally, Glenwood Park is surrounded by a vibrant community with a population of approximately 167,00 within a three-mile radius and an average household income of $126,000. Glenwood’s highly walkable design and easy access from I-20 make it an ideal location for community and regional retailers.
Mark Bratt added, “The strategic location of Glenwood Park and its proximity to the Atlanta BeltLine will significantly boost pedestrian traffic and tenant demand, making it a prime destination for locals and visitors. We are committed to supporting local businesses and fostering a vibrant community atmosphere.”
About Westwood Financial
Westwood Financial owns, manages, and operates over 125 high-quality shopping centers in top U.S. metropolitan markets, including Atlanta, Charlotte, Dallas, Denver, Los Angeles, Orlando, Phoenix, and Raleigh. Top-tier grocers and leading service and experiential-based operators primarily anchor the centers. Established in 1970 by Howard Banchik and Steven Fogel, Westwood Financial is headquartered in Los Angeles, with regional offices in Atlanta, Dallas, and Phoenix. More information is available at westfin.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240724400062/en/
Contacts
Matthew Loving
Director of Investor Relations
MLoving@westfin.com
