Centennial buys Valencia Town Center from URW
Unibail-Rodamco-Westfield keeps on divesting big retail properties and Centennial keeps on adding them. Dallas-based Centennial—which operates 37 r...
Unibail-Rodamco-Westfield keeps on divesting big retail properties and Centennial keeps on adding them. Dallas-based Centennial—which operates 37 regional malls and open-air centers in 15 states since its acquisition of with Bayer Properties last year—has acquired Westfield Valencia Town Center, a million-sq.-ft. property on 60 acres in California's Santa Clarita Valley north of Los Angeles. The reported sale price was $199 million. 'While it is too soon to announce any definitive plans, Valencia Town Center is in the perfect location to become a multi-use live-work-play destination that seamlessly and aesthetically combines retail, restaurants, entertainment, luxury living and office space,' said Centennial's chief investment officer Carl Tash.