logo
  

Macerich Sells Paradise Valley Mall - Quick Facts

Macerich (MAC) has sold Paradise Valley Mall, a non-core asset in Phoenix, for $100 million to a joint venture with an affiliate of RED Development. The company said the deal generated net proceeds for Macerich of approximately $95 million.

"As the retail landscape continues to evolve here in Arizona and around the country, our decision to realize the market value of this non-core asset makes sense for Macerich. Our focus remains on Macerich's top-tier, market-dominant properties that will continue to benefit from the industry's increasing momentum toward high-quality destinations," said Ed Coppola, President, Macerich.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Sandoz, Inc., an unit of Novartis AG, is recalling one lot of deep vein thrombosis (DVT) medication Enoxaparin Sodium in the form of injection for the potential exposure to high temperatures that may have impacted product effectiveness, the U.S. Food and Drug Administration or FDA said in a statement. Livia Global, Inc., a health and wellness company, is recalling two lots of its Liviaone liquid probiotics citing the possibility of contamination by Pseudomonas aeruginosa, the U.S. Food and Drug Administration said. Pseudomonas aeruginosa is a microorganism found in the environment that, if ingested, can cause life-threatening infection in immunocompromised individuals. United Airlines operated Thursday the first ever passenger flight using 100% Sustainable Aviation Fuel or SAF as part of its efforts to combat climate change. The airline flew the green flight from Chicago's O'Hare International Airport or ORD to Washington, D.C.'s Reagan National Airport or DCA with more than 100 passengers.
Follow RTT