GlobeSt.com UPDATE: $153M Broadway Mall Sale Closes

HICKSVILLE, NY-Vornado Realty Trust has completed its $152.5-million acquisition for the1.2-million-sf Broadway Mall here. The mall is anchored by Ikea, Target, Macy’s and a Multiplex Cinema. The agreement for the Long Island-area mall includes the assumption of an existing $94.9-million mortgage. The Broadway Mall is located on Route 106 just off exit 41 of the Long Island Expressway.

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.