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Friday, Jun 9, 2023

Antelope Valley Mall to Sell in $3.2 Billion Portfolio

Forest City Realty Trust Inc. plans to sell the Antelope Valley Mall in Palmdale as part of a 10-property, $3.2 billion portfolio. Based in Cleveland, Forest City has already sold two malls to Australian retail giant QIC Ltd., including the South Bay Galleria in Redondo Beach on Wednesday. Forest City expects QIC will close on another four properties, including the Palmdale mall, in early 2018. The final four malls in the portfolio will close when Forest City secures replacement assets for the cash generated from the divestitures. The Antelope Valley Mall hosts nearly 100 tenants, including JC Penney, Macy’s and Dick’s Sporting Goods. It is located at 1233 Rancho Vista Blvd. QIC entered the U.S. market in 2013 by forming a joint venture with Forest City.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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