BROCKTON, MA-The Westgate Mall is selling to Newton-based NewEngland Development for $31.75 million. The 532,135-square-footenclosed mall is anchored by Macy's, Sear's, with junior anchorsBest Buy, Old Navy and Marshalls.
"We believe in this location for retail and are currentlyworking on several ideas to enhance the center," explained DougKarp EVP at New England Development, in a statement.
The property is located at 200 Westgate Dr. and is 95% leased by67 tenants. Macy's is secured until 2018, while Sear's is locked inuntil 2021. The mall had an approximate NOI in 2008 of $4.2million
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