Countryside Mall Ownership Changes Coming

The owner of Countryside Mall and five other Florida malls has taken on a partner, a signal that its portfolio of shopping centers may be redeveloped, analysts say.

The Sarasota Herald Tribune reports that the Westfield Group, which owns Countryside, has formed a joint venture with a New York investment company called O'Connor Capital Partners.

The joint venture suggests that the mall owner may be lining up investors for redeveloping and improving its Florida properties.

The partnership shows confidence in the Florida malls and economy, analysts say.

“This is good news," analyst Jeff Green told the Herald Tribune, which reported that:

The announcement of the sale means that a plan or proposal has been put in place for the future of these properties, said Howard Davidowitz, chairman of Davidowitz & Associates, a New York-based retail and investment firm.

O'Connor will now have a 49.9 percent stake in six Florida malls, including Countryside.

Related coverage:

• Now Hiring: P.F. Chang's at Countryside Mall
• Whole Foods Location: More Details Revealed
• Whole Foods Market Announces Plans for Clearwater Store
• What Clearwater's Saying: Whole Foods Market is Coming
• BJ's Restaurant and Brewhouse Coming to Countryside Mall
• Movie Theater Opens at Westfield Countryside Mall
• Now Open: Bar Louie at Countryside Mall
• Apple Retail Store Coming to Clearwater
• Red Robin Sets Opening Date in Clearwater
• What Else Should Come to Westfield Countryside Mall?

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