Westfield v. Brookfield in heavyweight bout for Downtown retail

TRD New York /
Sep.September 11, 2013 11:37 AM

The Westfield Group wants to be champ of downtown retail – and is fighting Brookfield Properties for the title.

Westfield has signed dozens of tenants for about 360,000 square feet — nearly 90 percent — in the first retail properties at the 16-acre World Trade Center site, sources told the New York Post. The space is in the Transportation Hub Oculus and lower levels of two of Larry Silverstein’s office towers.

The global mall giant manages all the retail space at the site, which has asking rents from $500 to $600 per square foot. Apple, Abercrombie & Fitch, Swatch, J. Lindberg and Michael Kors are in the final stages for deals at the World Trade Center, which will have 460,000 square feet ready by 2015.

Brookfield has attracted Salvatore Ferragamo, Hermes and Burberry to its Brookfield Place, which will have 200,000 square feet available next year.

Westfield pays the Port Authority of New York & New Jersey $612.5 million for a joint-venture partnership to operate the retail complex, as previously reported. [NYP]Mark Maurer

Related Articles

Renderings of Brookfield's Bankside in the South Bronx (Credit: ArX Solutions)

This is what Brookfield’s South Bronx megaproject will look like

Brookfield's Rick Clark and RFR Realty's Aby Rosen with the Lever House at 390 Park Avenue (Credit: Getty Images and Google Maps)

Aby Rosen makes it two Lever House lawsuits in two weeks

A Victoria's Secret store in New York (Credit: Getty Images)

Victoria’s Secret sues WTC landlord amid store closures and layoffs

The architect claims the design, construction and marketing of the tower rips off the design of a tower he planned and modeled for his thesis

Lawsuit over WTC design is whittled down

Ron Moelis, Ric Clark and 552 Main Street on Roosevelt Island (Credit: Brookfield, L+M, Google Maps)

L+M and Invesco partner to buy 2,800 market-rate apartments

Michael Milstein and 335 Madison Avenue (Credit: Google Maps)

Milstein finalizing $750M refi at 335 Madison tech hub

From left: Simon Property Group David Simon, Forever 21 CEO Do Won Chang, and Brookfield CEO Bruce Flatt (Credit: Getty Images)

Forever 21 is in trouble. So some executives asked its landlords to pitch in, report says

A rendering of Manhasset Square and Aanen Olsen, Vice President of Development at Brookfield Asset Management

This $400M mixed-use project could be coming to Manhasset