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Macerich to acquire Kings Plaza and Green Acres Mall
Santa Monica, Calif. -- The Macerich Co. announced on Monday plans to acquire Kings Plaza, located in Brooklyn, N.Y., and Green Acres Mall, located in Valley Stream, N.Y., on the border of New York City and Nassau County.
Kings Plaza is being acquired from a subsidiary of Alexander's for $751 million, with a closing date set for late 2012. Green Acres is being acquired from a subsidiary of Vornado Realty Trust for $500 million, with a first quarter 2013 closing date.
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Taubman, Benderson launch construction on Mall at University Town Center
Sarasota, Fla. – Bloomfield Hills, Mich.-based Taubman Centers and Sarasota, Fla.-based Benderson Development Co. announced the ground breaking on a $315-million, 880,000-sq.-ft. shopping center in Sarasota, Fla.
The Mall at University Town Center will be a two-level enclosed mall anchored by Saks Fifth Avenue, Dillard’s and Macy’s, and featuring more than 100 specialty stores and restaurants.
The Mall at University Town Center is scheduled to open in Oct. 2014.