The Broadway Mall is not the only Long Island retail center to change hands this year. In June, the Westfield Group purchased the 1.3 million-sf Sunrise Mall in Massapequa from a private partnership called Sunrise Mall Associates in a $143-million deal.
When the REIT first announced its Broadway Mall purchase, it also entered into an option agreement for the 1.4-million-sf Springfield Mall in Springfield, VA, which it plans to redevelop, reposition and retenant. It is anchored by Macy's, JC Penney and Target.
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