HOUSTON — Westwood Financial Corp. has acquired The Market at Lake Houston, a 102,000-square-foot retail center serving the Atascocita area in northeast Houston. The shopping center, located along FM 1960 East, is anchored by an H-E-B grocery store and benefits from strong local demand and steady shopper traffic.
HFF brokers Rusty Tamlyn and Ryan West marketed the property. According to West, the transaction attracted significant attention because H-E-B is a tenant rather than an owner — a relatively rare arrangement for H-E-B-anchored centers in Texas. Strong H-E-B sales at this location helped drive buyer interest.
Los Angeles-based Westwood Financial, led by CEO Joe Dykstra, expands its retail footprint with this acquisition. The company’s portfolio includes approximately 120 shopping centers nationwide, and this is one of several properties in the greater Houston market.
The Market at Lake Houston was completed in 2002 and remains fully leased to a mix of national and regional retailers and service providers. Current tenants include H-E-B, Sally Beauty Supply, Payless ShoeSource, GameStop, VIP Nails and Spa, Five Guys, Market Cleaners, Leslie’s Swimming Pool Supplies and Subway. The tenant mix provides a blend of grocery, foodservice, personal care, and specialty retail offerings that support consistent customer draw.
An HFF debt placement team — Kevin MacKenzie, Jamie Kline and Matthew Putterman — assisted in arranging financing for the acquisition from Nationwide Life Insurance Company. The financing package facilitated the transfer of ownership and supports Westwood’s plans to operate and maintain the center as a neighborhood retail hub.
The acquisition underscores continued investor interest in well-located grocery-anchored retail centers, particularly properties with stable tenancy and resilient everyday needs tenants. The presence of a prominent grocer like H-E-B typically enhances a center’s long-term performance, drawing regular visits and supporting the smaller inline retailers around it.