fbpx

Macerich sells Paradise Valley Mall for $126.5M; major redevelopment set

3April 2021

Macerich has sold Paradise Valley Mall, a 1.2 million-square-foot shopping center in Phoenix, for $126,500,000 to a joint venture of RED Development and an affiliate, according to the commercial real estate tracking website Vizzda. The deal comes with $89,578,260 in new debt with Western Alliance Bank, according to Vizzda. The property recently received rezoning approval from the city and the previous partnership of Macerich and RED were moving forward with redevelopment plans to transform the asset into!

The post Macerich sells Paradise Valley Mall for $126.5M; major redevelopment set appeared first on AZ Big Media.

See Your Business Here!

For more information on our listings, advertising, coupons, and mailers, please contact us today!

Skip to content