A report Thursday that a real estate investment partnership has agreed to buy large stakes in Westfield Vancouver and four other U.S. Westfield malls contained a mysterious nugget about previously undisclosed plans for a new retailer in the mall. The transaction details, reported on industry website Real Estate Alert, said the investors would pay $169.7 million for 465,000 square feet of commercial space owned by Westfield at the 913,000-square-foot mall. It noted Westfield owns space that houses Cinetopia and Gold’s Gym, which occupies a floor of the former Nordstrom space, and clothing retailer H&M. However, the mall does not include an H&M store.
Chris Yates, the mall’s marketing director, explained Friday in response to a question that H&M is proposed to take the vacant first floor of the former Nordstrom space in 2016. He offered no other details but cautioned that the proposed investment deal, in which Austrialia-based Westfield would remain a minority owner, is not yet finalized.
“The stipulations of the joint venture are still under negotiations,” Yates said by email. “As of today, Westfield still owns and manages Westfield Vancouver mall.”
