Why Mall Landlord Westfield Is Leaving The U.S.
Feb 18, 2021
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.
