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Westfield Florida Mall in Sale Talks as Owner Cuts US Portfolio

Pacific Retail eyeing $200 million deal for Tampa-area center, while landlord URW plans ‘radical reduction’ of its holdings.

Westfield Brandon Mall near Tampa, Florida.
Westfield Brandon Mall near Tampa, Florida.Source: Unibail-Rodamco-Westfield

Global shopping-mall owner Unibail-Rodamco-Westfield is in talks to sell a property in Florida as it prepares a “radical reduction” of its US holdings. 

Pacific Retail Capital is proposing to buy the Westfield Brandon Mall near Tampa. Terms of a deal, which may not materialize, are still under negotiation. Chief Executive Officer Steve Plenge said the firm would offer about $200 million, based on a projected 9% to 10% annual return on the investment.