ATLANTA—Westwood Financial Corp. is already one of the largest privately held owner-operators of grocery-anchored retail properties in the United States. Now, it just got a little bit bigger.

Westwood snapped up Retreat Village, a 108,600-square-foot neighborhood shopping center at 220 Retreat Village in Saint Simons Island, GA. Westwood acquired the retail asset from Pace Properties and Somera Capital Management. Richard Reed, managing director with HFF, represented the sellers in the transaction.

“Retreat Village is a fixture in the Saint Simons Island and Sea Island resort communities and has a long history of high occupancy, making it a prime investment property to add to our expanding Southeast portfolio,” Joe Dykstra, executive vice president of Westwood, tells GlobeSt.com. “As a core plus property in a market where commercial real estate rarely changes hands, we see Retreat Village being a part of our portfolio for years to come.”