MASSAPEQUA, NY — The Sunrise Mall was sold for nearly $30 million, according to an announcement Monday.
Urban Edge Properties said it purchased the shopping center from Unibail-Rodamco-Westfield for $29.7 million, plus up to an additional $6 million. The Sunrise Mall, located in Massapequa, has 1.2 million square feet of retail space with anchor tenants like Macy's, Sears and Dick's Sporting Goods.
"Sunrise Mall is a unique asset with a prime location in a dense, attractive region along the southern shore of Long Island," said Jeff Olson, CEO of Urban Edge, in a statement. "This acquisition provides a terrific opportunity for Urban Edge to leverage our redevelopment expertise in repurposing underutilized land and creating value."
Urban Edge said it sees a lot of potential in the mall, which is located right on Sunrise Highway in Nassau County. The mall is currently 65 percent occupied.
New Jersey-based Urban Edge manages, develops and redevelops retail spaces.
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January 05, 2021 at 12:14AM
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Sunrise Mall Sold For Nearly $30 Million - Patch.com
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