Westfield America Gains Stake in North Bridge

CHICAGO-The Australia-based retail giant takes over leasing and marketing of the 386,000-sf Magnificent Mile shopping center, which will be renamed Westfield Shoppingtown North Bridge. The John Buck Co. and Morgan Stanley Real Estate Funds retain majority ownership.

By Mark Ruda | August 12, 2003 at 01:01 AM

The Shops at North Bridge includes more than 30 specialty retailers. Although terms of the deal were not disclosed, Westfield America takes over leasing and marketing of the Magnificent Mile shopping center, which will be renamed Westfield Shoppingtown North Bridge. The original developers will retain majority ownership of the project, according to chairman and CEO John Buck.

Westfield America's local portfolio includes shopping centers at Old Orchard in Skokie, Fox Valley in Aurora and Hawthorn Center in Vernon Hills.

NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.

1 Brookfield’s Net Lease Platform Changes Hands in $2.2B Deal with Starwood

2 Landlords Pulled Into Immigration Raids as ICE Demands Tenant Information

3 Community Banks Step Up as Larger Lenders Retreat From CRE

4 Multifamily Outlook Adjusted as Economic Uncertainty Mounts

5 Lease Smarter: Uncover Hidden Costs & Save Big on Real Estate

Real Estate
GlobeSt. ELITE Women of Influence (WOI) 2025
July 21, 2025 - Denver

GlobeSt. Women of Influence Conference celebrates the women who drive the commercial real estate industry forward.
More Information
Real Estate
GlobeSt. Multifamily Fall 2025
October 15, 2025 - Los Angeles

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!
More Information

Multifamily Construction Spikes to Highest Level in Nearly 40 Years

By Philippa Maister | July 10, 2025

Southern states are driving the boom with the most units completed in 2024.

Multifamily Construction Spikes to Highest Level in Nearly 40 Years

NYC’s Push for Office Conversions Faces Uncertain Future

By Erik Sherman | July 09, 2025

A rent freeze would make conversions financially unfeasible.

NYC’s Push for Office Conversions Faces Uncertain Future

Office Conversions Gain Momentum Amid Persistent Vacancies

By Kristen Smithberg | June 25, 2025

Office occupancy is unlikely to increase in the near future.

Office Conversions Gain Momentum Amid Persistent Vacancies

2025 State of Renter Delinquency and Default link

Report

Sponsored by TheGuarantors

2025 State of Renter Delinquency and Default

Renter default is a critical challenge. This report, based on a survey of 400+ multifamily professionals, reveals key trends, economic drivers, and mitigation gaps to help you build resilience in 2025. You'll gain insights into the root causes of renter default, the operational strains it can put on your portfolio, and strategies you can leverage to protect your investments and maintain stability.

Browse More Resources ›

CRE Property Management Assessment: Your Building Operations Scorecard link

Assessment

Sponsored by Building Engines

CRE Property Management Assessment: Your Building Operations Scorecard

How do your building operations measure up? Use this detailed scorecard to evaluate your operational approach across five key areas.

Browse More Resources ›

5 Strategic Moves to Protect Your Multifamily NOI in 2025's Squeeze link

White Paper

Sponsored by TheGuarantors

5 Strategic Moves to Protect Your Multifamily NOI in 2025's Squeeze

Skyrocketing economic uncertainty means it’s essential for multifamily owners and operators to strengthen risk mitigation capabilities. Discover expert insights from industry experts, including the President of NMHC, to tackle 2025 challenges such as slower lease-ups, cost pressures, renter fraud, high reliance on concessions, and more.

Browse More Resources ›