Supermarket-anchored shopping center firm Westwood Financial is putting a new captain at the helm after more than five decades.
The Los Angeles-based company has appointed KC Bills as its next chief executive, a move that comes as the company celebrates its 55th anniversary and sharpens its focus on high-growth Sun Belt markets. Bills, a former executive at grocery-anchored retail owner Phillips Edison & Co., will step into the role July 28 and lead a national portfolio of more than 125 shopping centers.
The appointment marks a generational leadership shift for Westwood, which has been steered since 1970 by co-CEOs and founders Steven Fogel and Howard Banchik. Both will remain involved as cochairmen of the board while Bills oversees strategy and operations aimed at driving long-term shareholder value.
Bills brings “in-depth knowledge and experience in the daily needs shopping center asset class,” Banchik said in a statement.
His arrival comes as the firm continues to reposition its portfolio, including the sale of Wyoming Mall in Albuquerque and a recent acquisition in Charlotte, North Carolina.
At Phillips Edison, Bills led the West portfolio and was credited with improving asset performance, streamlining operations and executing growth strategies. His experience with leasing, tenant mix and market strategy aligns with Westwood’s goal of reinforcing its presence in Sun Belt metros while navigating broader shifts in retail.
Retail investment activity has been building steadily, with U.S. annual sales volume reaching $59 billion in 2024, up 8% from the prior year, according to CoStar data. But despite strong fourth-quarter closings, retail landlords face new headwinds as bankruptcies mount and tenants reduce space.