Westwood Financial Acquires Two Sprouts-Anchored Centers in Metro Atlanta, Phoenix for $66.2 Million

Westwood Financial acquired Boardwalk at Andersen Springs (pictured) in Chandler, Arizona. The center is home to the original Sprouts Farmers Market. (Photo courtesy of LoopNet) Westwood Financial acquired Boardwalk at Andersen Springs (pictured) in Chandler, Arizona. The center is home to the original Sprouts Farmers Market. (Photo courtesy of LoopNet)

Decatur, Ga. and Chandler, Ariz. — Westwood Financial LLC has acquired two Sprouts-anchored retail centers located in Decatur and Chandler for a combined $66.2 million.

The properties were acquired in separate transactions. In Decatur, located seven miles east of downtown Atlanta, Westwood acquired Decatur Crossing, an 81,900-square-foot shopping center that was constructed in 2017. Fuqua Development developed and sold the property, according to the Atlanta Business Chronicle. HFF arranged a loan through Unum Group on behalf of Westwood. Decatur Crossing was fully leased at the time of sale. In Chandler, an eastern suburb of Phoenix, Westwood acquired Boardwalk at Andersen Springs. Constructed in 2005, the property is the home of the original Sprouts Farmers Market. Sprouts is currently undergoing a $1 million renovation and recently executed a 10-year lease renewal. HFF arranged a loan through Nationwide Life Insurance Co. on behalf of Westwood. Boardwalk at Andersen Springs was 97 percent leased at the time of sale.

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