Johnson: Westfield Willing to Sell Downtown Plaza

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(Sacramento, CA)
Tuesday, December 15, 2009
City officials have been frustrated with Westfield for years. They believe the company’s unwillingness to invest in the struggling mall has slowed downtown Sacramento’s growth.
On Tuesday, the mayor called the decision a “breakthrough,” and said it stemmed from a discussion he had with Westfield officials a few months back.
Johnson: “This is a new era downtown. We need you to either play or move and step aside. I feel like they understand that message we’re sending them, so that’s why we’ve reached this particular point so quickly.”
Johnson says the hardest part will be finding a buyer willing to not only pay for the mall, but then make a significant investment on top of the purchase price.
He hopes to start looking for buyers early next year.
A statement from Westfield says it hasn’t received any offers to purchase the mall – and in the meantime, it remains focused on investing in the property and bringing in new tenants.