Trumbull Mall Sold, New Owner's Identity Not Yet Revealed

TRUMBULL, CT — The Westfield Trumbull mall has been sold to a commercial real estate investment firm, along with a mall in New York, for $196 million.

Unibail-Rodamco-Westfield, the mall's previous owner, announced in a press release Tuesday the sale of the mall, and Westfield South Shore in Bay Shore, N.Y., was completed as of Friday but did not reveal the buyer's identity.

In a statement, First Selectman Vicki Tesoro said the town had been aware the mall property was for sale for a while but first learned the sale had closed Tuesday.

She also noted town officials know the identity of the buyer, however they have not been in contact with the town yet.

"We are eager to work with the new mall ownership to ensure a bright future for the mall property and the surrounding area," Tesoro said in a statement.

According to Tesoro, the town will be kicking off its Trumbull Mall Area Market Feasibility and Land Use Study in February, in which the new owners will likely be active participants.

"We expect, and the community deserves, that the new owners will invest in the mall property to create a safe and vibrant destination experience for our residents to enjoy," Tesoro said.

In an email to Patch, Economic and Community Development Director Rina Bakalar said the mall is the most significant commercial property in town from both a jobs and tax base perspective.

"While there are challenges there," Bakalar said, "there are certainly opportunities as well. We hope to work with the new owners through the upcoming study and, by developing a strong direct working relationship, to pursue the best opportunities for the Trumbull and regional communities."

Located at 5065 Main Street, the Trumbull mall features a number of popular stores and food options, including large Macy's, JCPenny and Target department stores. Other notable businesses include The Cheesecake Factory, an Apple Store, Old Navy and Hot Topic among others.

The Connecticut Post reports the mall's stores employ over 3,000 people, according to the town's most recent estimates. The town last appraised the mall at $153 million, however that figure does not include the department store anchor pads and an outbuilding for LA Fitness.