Westgate Mall (Brockton)

Westgate Mall

Sears
Location Brockton, Massachusetts, United States
Coordinates 42°05′44″N 71°03′07″W / 42.0955°N 71.0519°W / 42.0955; -71.0519
Address 200 Westgate Drive
Opening date February 24, 1963
Management New England Development
Owner New England Development
No. of stores and services 65+[1]
No. of anchor tenants 6 (5 open, 1 vacant)
Total retail floor area 600,000 sq ft (56,000 m2)[1]
No. of floors 1 (2 in Sears)
Website www.shopatwestgatemall.com

Westgate Mall is a shopping mall in the city of Brockton, Massachusetts. It is the oldest enclosed shopping mall in the state.[2] Westgate Mall features Sears, Best Buy, Bath and Body Works, Jo-Ann Fabrics, Famous Footwear, FALLAS, Old Navy, and a mix of more than 65 specialty stores including Victoria’s Secret, The Children’s Place and Rue21. Eateries include Buffalo Wild Wings, IHOP and Auntie Anne's. Westgate Mall is located at the intersection of Routes 24 and 27 in Brockton and accessible via the Brockton Area Transit Authority. Although Westgate Mall's GLA is small by regional standards, it is also surrounded by numerous adjacent big-box stores including: Walmart, Lowe's, Toys "R" Us, A.C. Moore, Market Basket, and Dick's Sporting Goods.[3] These standalone retailers complement the main building, driving increased traffic to the location as a shopping destination. On January 4, 2017, it was announced that Macy's would be closing as part of a plan to close 68 stores nationwide. The store closed in March 2017.

History

Today's 600,000-square-foot (56,000 m2) mall opened -as the 356,000-square-foot (33,100 m2) Westgate Shopper's Park- in February 1963. It was expanded in 1984-1985 and substantially renovated between 2000 and 2003, reversing a trend of nearly a decade of decline wherein nearly all of the stores had vacated the center. Nearby malls, including South Shore Plaza and Silver City Galleria, dominated the market in the past 15 years, but the Westgate Mall today has repositioned itself as a smaller, more convenient alternative and as a result, business has improved.

Ownership of the mall has changed hands several times over the past decade. The mall was purchased by New England Development for $17 million in 1999, with plans to revitalize the vintage mall. Over several years, the new owners spent significant resources to remodel it, and were very successful in turning the mall around. In 2004, New England Development sold Westgate to Gregory Greenfield & Assoc. (GG&A) for $58.5 million; three years later, GG&A was taken over by Australia-based Babcock & Brown.[4] In 2009, Bank of America foreclosed the mall due to "breach of conditions" on its mortgage with Babcock & Brown, and the property went on the auction block.[2][5][6] Finally, in 2010, New England Development again purchased the property for $31.75 million, and as of 2016 remains Westgate Mall's current owner.[7]

References

  1. 1 2 "Westgate Mall". New England Development. Retrieved 2011-03-10.
  2. 1 2 Kyle Alspach (Nov 17, 2009). "Brockton’s Westgate Mall could have brighter future under new owner". Taunton Daily Gazette.
  3. ↑ "Westgate Mall" (PDF). New England Development. 2009. Retrieved 2011-03-10.
  4. ↑ "Brockton’s Westgate Mall Fetches $31.75M" (PDF). Banker & Tradesman. June 1, 2010. Archived from the original on June 1, 2010.
  5. ↑ Eric Convey (December 14, 2009). "Brockton mall on block after owner goes bankrupt". Boston Business Journal.
  6. ↑ Dan Guenther (October 28, 2009). "Westgate Mall Loan Foreclosure Reflects Foreign Investor Angst". Boston Real Estate Examiner.
  7. ↑ Craig M. Douglas (June 1, 2010). "N.E. Development buys Westgate Mall". Boston Business Journal.
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