Derma Health and LaLa Land Kind Cafe bring the premier shopping destination to 100% leased following a strategic repositioning effort
PHOENIX--(BUSINESS WIRE)--Westwood Financial, a more than 50-year-old leading retail real estate investment firm based in Los Angeles, today announces the opening of Derma Health at Camelback Village in Phoenix's Paradise Valley neighborhood. In addition, LaLa Land Kind Cafe has signed a lease at the center and will open in 2025. With this latest momentum, Camelback Village is now 100% leased.
Since launching a substantial multi-million dollar repositioning effort at Camelback Village in 2021, Westwood Financial has cemented the property as one of the region's top-performing retail centers. Upgrades include an exterior refresh to provide the property with a sleek, contemporary aesthetic, such as a white facade and dark metal seam roof. New light-colored stone columns and wood trellises frame storefronts, while an enhanced courtyard and upgraded landscaping creates an appealing atmosphere for guests to the property. Notably, Westwood Financial has increased average rental rates since acquiring the property.
"Our strategic investments at Camelback Village have restored the property as a jewel of the community, beckoning visitors to stop into the myriad of retailers, restaurants and lifestyle brands that call the center home," said Lauren Ball, chief operating officer at Westwood Financial. "These new tenants will further complement the vibrant roster of tenants that have collectively transformed Camelback Village from a traditional shopping center to a dynamic destination for Phoenix residents."
With its fifth location in the Phoenix area now open at Camelback Village, Derma Health occupies three suites situated around the courtyard totaling 3,100 square feet. The leading Botox provider offers a diverse mix of medical aesthetic services, including laser, thread and facial lifts, hair restoration, dermal fillers, plasma pen treatment, skin care, and body contouring.
Due to Westwood Financials' strategic repositioning efforts, it was able to attract a new-to-market, high-end lifestyle tenant like LaLa Land Kind Cafe. Opening in a 1,856-square-foot retail space around the center's outdoor courtyard, LaLa Land Kind Cafe at Camelback Village will continue its mission of spreading kindness and serving top-quality coffee and delicious treats. Upon opening in 2025, Camelback Village will become the brand's first Arizona location.
Notable tenants at Camelback Village include AJ's Fine Foods, Flower Child, Steak 44, Wells Fargo, Bank of America, Laseraway, Story Essentials, Pretty Please Collective, The Body Lab, Urbana, Churchills, Wally's American Pub + Grill and Root Bar. The property is in close proximity to The Grove, a $300 million, 15-acre mixed-use development that houses the Phoenix Suns and Mercury training facility.
In Phoenix, Westwood Financial recently acquired Paradise Hills, an elevated retail center spanning 83,787 square feet. At nearly full occupancy, the property is home to 16 tenants ranging from hardware supplies and a baked artisan bread shop to essential services, including a nail salon, barber shop, and hair salon. Westwood Financial owns and manages 16 shopping centers in the Phoenix-Scottsdale MSA, including Mercado del Rancho, Legacy Village and Village Plaza.
Set to celebrate its 55th anniversary in 2025, 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 about Westwood Financial, 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.
Contacts
Volker Schramm
Marketing Director
VSchramm@westfin.com
