Why Mall Landlord Westfield Is Leaving The U.S.

In the U.S., an increasing number of retailers have decided to leave the traditional mall. Now one mall owner, Unibail-Rodamco-Westfield, is leaving the U.S. Three years ago, the Paris-based conglomerate took over several U.S. malls when it acquired some operations of Australia-based Westfield. The company, which now runs 28 properties here, last week announced it “will implement a [program] to significantly reduce its financial exposure to US assets in 2021/2022.” URW last year already sold its interest in three U.S. malls, (Meriden, Siesta Key and Sunrise); now executives say they will focus on operating in Europe. Read more at Retail Dive.