ARCADIA, CA–Unibail-Rodamco-Westfield, as part of its ongoing divestiture of US mall assets, has sold the Westfield Santa Anita mall for $538M, said to be the largest retail deal since 2018.
The buyer of the 1.5-million-square-foot property in Arcadia, CA was not disclosed. The transaction, brokered by Eastdil Secured, translates into $363 per square foot. The mall is 96% leased and posted sales of $611 per square foot, with sales reaching 93% of pre-pandemic levels, the company said in a release.
URW, Europe's largest mall operator, acquired the Santa Anita mall in 2018 as part of its $15.7B acquisition of Australia-based Westfield, which had owned and operated the mall since 2007.
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