Montgomery & Wheaton Mall Owner Looking to Sell Properties
The Los Angeles Business Journal is reporting that Unibail-Rodamco-Westfield (URW) plans to sell all of it’s US holdings in 2022. This would include both Westfield Montgomery and Westfield Wheaton.
Shopping malls, which were already hurting due to the rise of online shopping, were hit especially hard during the COVID-19 pandemic.
CEO of URW Jean-Marie Tritant said “We are implementing a program to significantly reduce our U.S. footprint once the investment markets reopen, which should happen as soon as the economy rebounds.”
You can read the full article at
https://labusinessjournal.com/news/2021/mar/08/mall-operator-urw-plans-sell-all-us-properties/
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