Quorum Plaza Retail Center Acquired in Addison, Texas

News Summary

Westwood Financial has successfully sold the Quorum Plaza retail center, a prominent shopping destination located in Addison, Texas. This two-story retail hub occupies 77,319 square feet and attracts over 839,000 visitors annually. With popular tenants such as Verizon and The Melting Pot, Quorum Plaza continues to be a vibrant part of the Dallas-Fort Worth retail landscape. As Westwood Financial refines its portfolio, this sale highlights the ongoing demand for quality retail assets in the region, particularly as the company gears up to celebrate its 55th anniversary.

Exciting News for Addison, Texas: Quorum Plaza Has a New Owner

Living in Addison, Texas, you’ll always find something new and exciting happening around town, and the latest news is big! Westwood Financial, a high-profile retail real estate investment firm based out of Los Angeles, has completed the successful sale of the popular Quorum Plaza retail center. This two-story retail destination is situated at 4900-4980 Belt Line Road, right in the heart of the bustling Dallas-Fort Worth-Arlington metropolitan area.

A Little About Quorum Plaza

If you haven’t been to Quorum Plaza recently, it might be time to swing by! This vibrant shopping center spans a whopping 77,319 square feet and is often buzzing with life. It features an exciting mix of dining, entertainment, and retail options that makes it a go-to stop for locals and visitors alike. You probably know some of the prominent tenants, such as Verizon, The Melting Pot, 7-Eleven, and The Improv. These well-known brands help draw in the crowds and keep the place lively!

Foot Traffic Tells a Good Story

Quorum Plaza isn’t just pretty from the outside; it’s a bustling hub with solid occupancy rates and a fantastic visitor count. Over 839,000 people stroll through its doors annually, proving that there’s no shortage of foot traffic! This impressive figure shows just how appealing Quorum Plaza is for shoppers looking for a great experience.

Westwood Financial’s Vision

Now, why would a major company like Westwood Financial sell such a vibrant asset? Selling Quorum Plaza is part of their mission to refine and curate their portfolio. This prominent firm, which has been around for an impressive 55 years, is no stranger to Texas real estate. They already own several other properties in the region, including Old Town Shopping Center, Village at Preston Hollow, and Legacy Ranch, showcasing their commitment to establishing a strong presence in the Lone Star State.

The Dallas-Fort Worth Market Is Thriving

One important takeaway from this sale is the continued strength and demand for high-performing retail assets in the Dallas-Fort Worth area. As the region evolves, investors and firms are eager to grab prime locations that contribute to their growth. Westwood Financial is clearly ahead of the game, as they recently expanded their footprint by acquiring Trails at 620, a 69,037-square-foot retail center located in Austin. This acquisition puts them in a supply-constrained submarket that promises significant growth opportunities.

Celebrating 55 Years of Success

As Westwood Financial gears up to celebrate its 55th anniversary in 2025, it’s safe to say they’re not slowing down anytime soon! With a current portfolio that boasts over 125 properties and an impressive 97% occupancy rate, the firm shows no signs of slowing down. They’re heavily invested in the Sunbelt region, with shopping centers found in major markets such as Atlanta, Charlotte, Dallas, Denver, Los Angeles, Orlando, Phoenix, and Raleigh. Each of these centers is strategically anchored by top-tier grocers and leading service providers.

In summary, the sale of Quorum Plaza marks an exciting change for Addison, Texas, and reinforces the robust nature of the Dallas-Fort Worth retail landscape. As the local economy thrives, residents can look forward to seeing how the new ownership will enhance the shopping experience in the heart of the “Platinum Corridor”—a location that’s only about 20 minutes north of downtown Dallas.