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June 8, 2020

Westfield Meriden mall sold to Long Island group

Dick’s Sporting Goods is one of the anchor tenants inside the Meriden mall. Paris-based conglomerate Unibail-Rodamco-Westfield will bid adieu to a number of U.S. retail holdings, including the Meriden mall, which it has owned since 1994.
By Michael C. Bingham

Westfield Meriden Mall has been acquired by Namdar Realty Group, of Great Neck, N.Y.  Financial terms were not disclosed.

The mall, at 470 Lewis Avenue in Meriden, was sold by French conglomerate Unibail-Rodamcar-Westfield (URW), which has owned the property since 1994. The shopping facility, to be rebranded as Meriden Mall, will continue to operate during the ownership transition.

Founded on Long Island, N.Y. in 1999 with the acquisition of a single storefront, Namdar today is a privately held commercial real estate investment firm that owns and operates some 31 million square feet of commercial real estate throughout the U.S. In Connecticut it also owns and operates Enfield Square Mall.

The sale of the Silver City mall is a part of the URW’s long-term strategy to sell a number of assets in its global portfolio. In Connecticut the company also owns Westfield Trumbull mall.

Under an executive order by Gov. Ned Lamont, shopping malls in Connecticut, including Westfield Meriden, were permitted to reopen May 20 to limited capacity.

"The Meriden Mall presents an exciting opportunity for our team,” said Jonathan Abda, director of acquisitions & dispositions for Namdar, in announcing the acquisition. "We look forward to serving the local community and working together to continue elevating the property." 

"Our goal is always to add value and determine the highest and best use of each of our properties," says Elliot Nassim of Mason Asset Management, a division of Namdar that will manage leasing for the group. "We saw great long-term potential in Meriden Mall, making it a natural fit for our portfolio. We are excited to work alongside the community to identify the best possible tenant selection for each of the current vacancies."  

“We are happy to announce that Meriden will have a new owner that will be a great steward of the shopping center for its next chapter,” said Paul Kurzawa, executive vice president of operations at URW in the U.S. “Westfield has a long history in Connecticut and thanks the people of Meriden for their generous support over the years.”

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