The Macerich Co. has closed on its previously announced $751 million acquisition of the Kings Plaza shopping center. The property was sold by Vornado Realty Trust and its affiliate, Alexander's, Inc.
The buyer is still in the process of finalizing the related acquisition of the Green Acres Mall in Nassau County, also from Vornado.
The Kings Plaza mall in Brooklyn, NY is over 1.2 million square feet and is located at 5100 Kings Plaza. The property was constructed in 1969 and underwent a significant renovation in 2002.
Eastdil Secured represented the seller in the sale.
For more information regarding this transaction, please see CoStar COMPS #2611228.