The Mall at Wellington Green is about to change hands as part of a $1.4 billion portfolio transaction.
Taubman Centers plans to sell the Wellington shopping destination and six others located outside of Florida to Starwood Capital Group. The other malls are located in North Carolina, Michigan, Texas and Virginia. Taubman announced the transaction on June 18.
“The seven centers we are selling are strong properties that fit well within the Starwood portfolio and will continue to thrive under their management,” Taubman said in a written statement cited by the Palm Beach Post.
The Mall at Wellington Green opened in 2001 and has more than 180 stores and restaurants. Tenants include Dillard’s, JCPenney, Macy’s and Nordstrom. [Palm Beach Post] — Eric Kalis