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.

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"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.

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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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CBRE's National Retail Investment Group repped the seller andprocured the buyer. The team consisted of Bill moylan, ChrisAngelone and Josh Klimiewicz.

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