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
About this deal
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.
On the Map
$220,000,000
$191/SF
Retail
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Players
Brandon Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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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