New Owner To Rebrand Westfield Siesta Key Mall: Reports

Sarasota FL

29 December, 2020

11:05 AM

Description

SARASOTA, FL — Westfield Siesta Key mall will start the year with a new owner, the Herald-Tribune reported. After Thursday, O'Connor Capital Partners will be the sole owner and operator of the mall, reports said. The real estate development firm has offices in New York, Palm Beach and Mexico City. Prior to this, O'Connor and Unibail Rodamco Westfield co-owned the 435,000-square-foot mall in a joint-venture partnership. While O'Connor held 49 percent of the property, Westfield was the majority owner with 51 percent. O'Connor has bought out Westfield's interest. Westfield will continue to manage the mall through Thursday, reports said. After that, the shopping center will be rebranded. Like what you're reading? Invite a friend to subscribe to free Sarasota newsletters and real-time email alerts. "O'Connor is excited to remain part of the partnership that owns the shopping center. We believe it has a bright future due to its excellent location and loyal customer base," Joel Bayer, president of O'Connor Capital Partners, said. "We look forward to working with the community to continue to add merchants and restaurants that will serve their needs and requests."