Stony Point Fashion Park one of seven malls to be sold
The deal is expected to close by the end of the year.
According to a RTT News, Stony Point Fashion Park has been bundled with six other malls and is being sold. The only other mall in Virginia is MacArthur Center in Norfolk.
Taubman Centers’ chief executive explained, “The seven centers we are selling are strong properties that fit well within the Starwood portfolio and will continue to thrive under their management.” On the other hand, Starwood Capital said these assets would expand SRP’s retail portfolio to 28 properties totaling 26.8 million square feet across 15 states.
Richmond.com has a little bit more information on what this means to the current stores.
According to a note sent by mall management to Stony Point tenants, the deal is expected to close by the end of the year and until then it’s “business as usual at Stony Point Fashion Park.”
Image: Stony Point Facebook
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Richard Hayes
When Richard isn’t rounding up neighborhood news, he’s likely watching soccer or chasing down the latest and greatest craft beer.
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