Shopoff Realty Investments has acquired a 14.1-acre parcel of Westminster Mall, in Westminster, Calif., which includes a vacant former Sears store. The property was purchased for $46.3 million from Seritage Growth Properties.
“As the owners of various retail and commercial properties across the country, being able to purchase a portion of the iconic Westminster Mall is an exciting opportunity for our firm,” said William Shopoff, Shopoff president and CEO. “We look forward to working with the City of Westminster to determine the future of this fantastic property, and ultimately breathing new life into the property for the City and its residents.”
The Westminster Mall houses approximately 1.3 million square feet of retail on about 90 acres, anchored by Target, JCPenny and Macy’s. The acquisition represents an opportunity to acquire a significant site in a high-barrier-to-entry market in coastal Orange County.
The site features direct freeway access to In
