July 14, 2016 Comments Off on Carlsbad Mall Changes Hands in Brookfield-Rouse Deal Views: 595 California News, San Diego, West

Carlsbad Mall Changes Hands in Brookfield-Rouse Deal

The Shoppes at Carlsbad retail center is now officially in the hands of Brookfield Asset Management Inc., as a result of the just-closed $2.8-billion national portfolio acquisition by the Toronto-based global asset management firm. Brookfield agreed to purchase a four-state, 27-property portfolio from New York-based Rouse Properties Inc. earlier this year.

The deal involves The Shoppes at Carlsbad, a 1.1-million-square-foot super regional enclosed mall located in Carlsbad, CA that Rouse acquired in late 2015 for $170 million from Australia-based Westfield Corporation. A planned renovation to transform the aging indoor mall into a more enticing open-air shopping complex is now uncertain.

The center is coastal North County’s only full-scale, department store-anchored shopping center, whose main retailers include Macy’s, Regal Carlsbad 12, Panera Bread, Peet’s Coffee & Tea, and 24 HR Fitness.

Read More at San Diego Business Journal

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