Forest City Realty Trust Inc. plans to sell the Antelope Valley Mall in Palmdale as part of a 10-property, $3.2 billion portfolio.
Based in Cleveland, Forest City has already sold two malls to Australian retail giant QIC Ltd., including the South Bay Galleria in Redondo Beach on Wednesday. Forest City expects QIC will close on another four properties, including the Palmdale mall, in early 2018.
The final four malls in the portfolio will close when Forest City secures replacement assets for the cash generated from the divestitures.
The Antelope Valley Mall hosts nearly 100 tenants, including JC Penney, Macy’s and Dick’s Sporting Goods. It is located at 1233 Rancho Vista Blvd.
QIC entered the U.S. market in 2013 by forming a joint venture with Forest City.