Westfield South Shore Mall Sold To Real Estate Investment Firm

BAY SHORE, NY — Westfield Mall South Shore in Bay Shore, along with Westfield Trumbull in Trumbull, Connecticut, were officially sold for a total of $196 million last week.

Unibail-Rodamco-Westfield, a French company which owns 21 malls in the U.S. and several international locations, said in a news release that it sold the two malls Friday to commercial real estate investment firm Namdar Realty Group.

Both assets are "B+ rated" properties, with South Shore being 94,400 square meters and 89 percent leased and Trumbull being 125,000 square meters and 85 percent leased, the release said.

In April, the French company said it planned to sell the majority of its American malls by the end of 2023.

According to a report in Bezinga, it suffered financial losses due to the pandemic as customers turned to online shopping.

In 2018, it paid about $24.7 billion, including debt, to acquire the portfolio of malls.

Westfield South Shore was the company's only mall on Long Island, and one of two malls in New York.

The sales come four years after purchasing the properties four years ago for roughly $14 billion.

In a statement to Patch, a spokesperson for Nadmar Realty Group said:

"A representative has confirmed that Mason Asset Management, Namdar Realty Group, and CH Capital have purchased Westfield South Shore from Unibail-Rodamco-Westfield. No further details are available at this time.”