How Much Money was the Milford Mall Sold For?

It’s only fitting that the one of the state’s largest malls, Westfield Connecticut Post mall in Milford, should be sold for big bucks and that is what happened recently.

Westfield agreed to sell the Milford mall at 1201 Boston Post Road to a consortium of three companies including Centennial Real Estate Co., Montgomery Street Partners and USAA Real Estate, the New Haven Register’s Luther Turmelle reports.

The sale price for the Milford mall and four similar malls Westfield owned in Illinois, California and Washington was for a staggering $1.1 billion, the Register reports. The sale concluded on Friday.

Westfield will maintain a minority interest in the Milford mall and one official associated with the new owners said they plan to reinvest money into the 1.33 million square-feet retail facility.

One expert told the Register that malls are typically sold when the current owners aren’t getting the profits they want.

Read the full New Haven Register story here.