Latest news with #WashingtonPrimeGroup
Yahoo
24-04-2025
- Business
- Yahoo
10 Florida malls, shopping centers on chopping block as owner plans sale of all properties
Washington Prime Group, the owner of about 70 malls around the United States, including 10 in Florida, is selling its remaining malls and shopping centers. The company, which filed for bankruptcy in 2021, also is laying off 139 workers at its Ohio headquarters. Washington Prime said about half of its properties were sold in 2024. "As part of WPG's multi-year journey, the company continues to sell assets in its portfolio, with about half of WPG's properties sold in the past year, while the remainder of the portfolio is or will soon be on the market," the company said in a statement. Here's what is happening. Florida malls owned by Washington Prime Group are: University Town Plaza, Pensacola Orange Park Mall, Orange Park Paddock Mall, Ocala Gaitway Plaza, Ocala West Town Corners, Altamonte Springs Melbourne Square Mall, Melbourne WestShore Plaza, Tampa Edison Mall, Fort Myers Boynton Beach Mall, Boynton Beach Royal Eagle Plaza, Coral Springs Washington Prime Group said on its website it owns 70+ properties in the U.S., with most located in the Southwest and Midwest. Based on its online map, states with the most malls and shopping centers are: Florida: 10 Texas: 9 Ohio: 4 Indiana: 4 There's no specific date but the company said, "the remainder of the portfolio is or will soon be on the market." Half of the company's properties sold in the past year, with sales of all remaining sites coming. Washington Prime Group, which also owns Polaris Fashion Place, will lay off 139 workers at its Columbus, Ohio, headquarters as it sells malls and shopping centers across the U.S. The company said the workers will be laid off starting June 2, with all layoffs occurring by March 31, 2026. "WPG is reducing its headcount to reflect the downsized organization," according to a statement. Mall owner Washington Prime Group Inc. filed for Chapter 11 bankruptcy protection in June 2021, citing the COVID-19 pandemic for making the move necessary. The company, which spun off from the nation's largest mall operator, Simon Property Group in 2014, had 102 shopping centers at the time. Contributor: Jim Weiker, Columbus Dispatch This article originally appeared on Florida Times-Union: 10 Florida malls, shopping centers to be sold by Washington Prime Group
Yahoo
19-04-2025
- Business
- Yahoo
Great Lakes Mall to be sold: What we know
*Attached video: Ohio 2025 minimum wage MENTOR, Ohio (WJW) – The owners of the Great Lakes Mall have informed the City of Mentor that it will be selling all of its properties. According to the City of Mentor, the Washington Prime Group is preparing to sell its entire portfolio of over 70 properties, which includes the Great Lakes Mall. 'A true hero': First responder with the Town and Country Fire District killed while assisting stuck driver 'The city believes in the viability of the Mall as an important retail center and will continue to support efforts for investment and diversification of use to serve our residents and visitors,' a post on the City of Mentor Facebook page said. At this time, it is unclear when the Great Lakes Mall will be sold. Winning Mega Millions ticket worth $112 million sold in Northeast Ohio FOX 8 News has reached out to the Washington Prime Group for more information, but has not yet gotten a response. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
