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New York & Tri-State  + Fairfield/Westchester  + Retail  | 
Unibail-Rodamco-Westfield has sold two shopping centers in Fairfield County, Connecticut and Long Island to an investment firm for $196 million

URW Trades Shopping Centers in Connecticut, Long Island for $196M

Unibail-Rodamco-Westfield (URW) has completed the sale of Westfield Trumbull, located in Trumbull, CT, and Westfield South Shore, located in Long Island’s Bay Shore, NY to an unidentified commercial real estate investment firm.  The combined gross sale price of these wholly owned regional assets at $196 million is equal to their gross market value, 

The sale reflects an initial yield of 9.5% on the in-place NOI. URW said both assets are B+-rated properties, with Trumbull being 1.3 million square feet and 85% leased, and South Shore being one million square feet and 89% leased.   

With this transaction, URW has made $1.3 billion in total proceeds to date from its planned radical reduction of its financial exposure to the U.S., including the previously announced sales of The Village, Westfield Santa Anita, the Promenade development parcel and the Palisade residential building, along with the ownership transfer of five other regional properties.   

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition