Westfield Buys Mission Valley Retail Buildings from Macy’s for $16.5M - NBC 7 San Diego
Ignite San Diego

Ignite San Diego

Local business spotlight

Westfield Buys Mission Valley Retail Buildings from Macy’s for $16.5M

    processing...

    NEWSLETTERS

    Westfield Buys Mission Valley Retail Buildings from Macy’s for $16.5M
    Photo courtesy of CoStar Group
    1702 Camino Del Rio North – Photo courtesy of CoStar Group.

    Mall owner Westfield Corp. has acquired two buildings at its Westfield Mission Valley mall from retailer Macy’s Inc., for approximately $16.5 million, according to CoStar Group.

    The buildings in the deal were Macy’s current 363,000-square-foot department store property at 1702 Camino Del Rio North, and a smaller nearby 5,500-square-foot retail building that currently houses the restaurant Broken Yolk Café, at 1760 Camino Del Rio North. Macy’s also operates a separate home furnishings store at the same center that was not part of the transaction.

    Cincinnati-based Macy’s announced in February that it was examining selling off full or partial stakes in some of its mall-based and other flagship real estate holdings. In Mission Valley and other U.S. locations, Macy’s has remained in place as a tenant under lease agreements with the new owners.

    Sydney-based Westfield Corp. owns or holds stakes in six San Diego County retail centers.

     Additional stories from the San Diego Business Journal are available here. Sign up for their free daily email newsletter.