Westfield Palm Desert, other malls up for sale

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After nearly three decades, Westfield Palm Desert shopping center is up for sale.

Westfield Group, the mall owner based in Australia, has put the mall on the block along with more than a dozen other underperforming malls, according to people familiar with Westfield’s plans.

A New York analyst who asked not to be named because he didn’t want to jeopardize his relationship with the company said the mall at 72-840 Highway 111 is among those Westfield listed for sale.

Catharine Dickey, executive vice president of corporate communications for Westfield’s U.S. operations in Los Angeles, said the company’s policy is not to comment on “market rumor or speculation.”

Eddie Ollmann, Westfield Palm Desert’s general manager, could not be reached for comment Friday.

The Palm Desert mall is anchored by JC Penney, Macy’s and Sears and has space for more than 150 stores. It opened in 1983 as the Palm Desert Town Center and is now the desert’s largest shopping center.

Westfield America Inc. bought the mall from TrizecHahn Corp. for $82million in 1999 and named it Westfield Shoppingtown Palm Desert.

The name eventually was shortened to Westfield Palm Desert. In addition to the anchors, it includes national specialty stores such as Aeropostale, Barnes Noble, Forever 21 and Victoria’s Secret.

Marty Cicco, a broker with New York-based Evercore Partners, who has been handling Westfield’s sale process, said he could neither confirm nor deny that the Palm Desert mall is for sale.

Several Westfield Palm Desert merchants said they heard talk about a possible sale but have not received confirmation.

Steve Lyle, with Coldwell Banker Commercial Lyle Associates, said the Palm Desert retail corridor continues to be one of the most sought-after locations in the valley.

The Wall Street Journal reported last month that several bidders have shown an interest with nonbinding, preliminary bids for at least some of the 17 malls that Westfield Group has put up for sale.

Others on the list include Downtown Plaza in Sacramento and malls in six other states.