North American Development Group Acquires Westfield Brandon Mall In Florida For $220M
459 Brandon Town Center Dr Brandon, FL 33511, USA
$220,000,000
$191/SF
Building Size
1,150,000 SF
Asset Type
Retail
Closing
May 25, 2023
AI
North American Development Group and an institutional investor have acquired the Westfield Brandon Mall in Florida for $220 million. The mall, which spans 1,150,000 square feet, was sold by Unibail-Rodamco-Westfield and Jean-Marie Tritant. Situated in the Brandon market, the mall currently has an occupancy rate of 84.5%. Notable tenants include Apple Store, Books-a-Million, Macy's, and Dillard's.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $220,000,000
- Square Footage: 1,150,000
- Price per Square Foot: $191
- Address: 459 Brandon Town Center
- Market: Brandon
Unibail-Rodamco-Westfield sold the Westfield Brandon Mall to North American Development Group and an institutional investor. Jean-Marie Tritant represented Unibail-Rodamco-Westfield in the transaction.
Players
Brandon Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93