Shopoff Realty Investments acquired an 11.9-acre parcel of Westminster Mall, in Westminster, California, which included an operating department store. The $49 million acquisition price included a lease back to the seller.
Shopoff previously purchased a 14.1-acre parcel of Westminster Mall, including a now-vacant former Sears store, in July 2022. The property was purchased for $46.3 million from Seritage Growth Properties.
The Westminster Mall houses approximately 1.3 million square feet of retail on approximately 90 acres, anchored by Target, JCPenney and Macy's.
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