Westwood Financial Sells Wyoming Mall in Albuquerque

LOS ANGELES--(BUSINESS WIRE)--Westwood Financial, a 55-year-old leading retail real estate investment firm based in Los Angeles, today announced the sale of Wyoming Mall, a 51,713-square-foot retail center in Albuquerque, New Mexico, to Curbline Properties Corporation. The completion of this sale marks the firm’s strategic exit from the market.

As we continue to refine and optimize our portfolio, the sale not only underscores our disciplined leasing and investment approach but also our commitment to operational excellence.

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Located at 2004 Wyoming Blvd NE, Wyoming Mall is a Walmart Supercenter-anchored shopping center in the heart of Northeast Heights, just east of the vibrant Uptown submarket. Westwood executed a transformation of the property’s prominent corner pad, replacing a former freestanding buffet restaurant with two national tenants, including Starbucks and the city’s first-ever Raising Cane’s. Wyoming Mall’s robust leasing momentum, paired with last year’s repositioning, significantly elevated its appeal, ultimately resulting in an unsolicited, off-market sale.

As a result of the repositioning strategy, the center secured seven new leases totaling over 10,000 square feet in under 24 months, including household-name brands and essential service providers. Wyoming Mall is also home to premier tenants including Chick-fil-A (not a part of the sale), Krispy Kreme, Dollar Tree, Great Clips, and more. At the time of sale, the property maintained solid occupancy at 96%.

“Over the past two years, Westwood Financial executed a bold and strategic repositioning effort. Following a comprehensive void analysis of the immediate trade area, the team identified key gaps in the market and executed a targeted leasing plan to deliver a well-balanced, service-oriented merchandising mix,” said Lauren Ball, Chief Operating Officer at Westwood Financial. “As we continue to refine and optimize our portfolio, the sale not only underscores our disciplined leasing and investment approach but also our commitment to operational excellence.”

Wyoming Mall is strategically located near longtime residential neighborhoods that consider Walmart and the center’s other retail and service-driven tenants a staple to their shopping needs. Within a 3-mile radius of the property is a population density of 63,000 and an average household income of $82,000. The well-located center is just one mile north of Interstate 40 and a 13-minute drive to downtown Albuquerque.

“Over the past decade, Wyoming Mall has delivered consistent, long-term value for our investors,” said Juyuan Wei, Chief Financial Officer for Westwood Financial. “In addition to realizing the value we created at this center, this sale marks our strategic exit from the market and allows us to redeploy capital into the high-growth Sunbelt cities that align with our long-term objectives.”

Celebrating its 55th anniversary this year, Westwood Financial owns and manages more than 125 properties with a 97% occupancy across the firm’s portfolio and has a dominant presence in the Sunbelt region.

For more information, visit its website and follow along on LinkedIn and Instagram.

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.