
Westfield Brandon Shopping Center Sells for $220 Million
Unibail-Rodamco-Westfield has completed the sale of Westfield Brandon, a regional shopping center in Brandon, FL. North American Development Group acquired the asset for $220 million in a joint venture with an institutional partner.
Westfield Brandon is an A-minus-rated 1.15 million-square-foot mall with an occupancy of 84.5 percent. It opened in 1995 as the Brandon Town Center. In 2002 it was renamed Westfield Shoppingtown Brandon when it was purchased by Westfield. The name was shortened to Westfield Brandon in 2005.
The location off Interstate 75 and Lee Roy Selmon Expressway has made it a popular shopping destination, even as changing consumer habits have changed the industry. It is among the top five regional malls in the nation, with almost 7 million visitors in the last year.
The buyer, North American Development Group, has more than $5 billion in assets around the country. Florida assets include shopping centers in Clearwater, Tampa, and Seminole.
- ◦Sale/Acquisition