What is Westfield Corporation?
How many malls did Westfield own?
When did Westfield start in New Zealand?
When did Westfield sell its shopping centers?
When was Westfield Place built?
When did Westfield Labs take over?
When did Westfield merge with Unibail?
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About this website
Why mall landlord Westfield is leaving the US | Retail Dive
In the U.S., an increasing number of retailers have decided to leave the traditional mall. Now one mall owner, U nibail-Rodamco-Westfield, is leaving the U.S.. Three years ago, the Paris-based ...
Owner of Westfield, Buckling under $32 Billion in Debt, Plans to Dump ...
“A management team that remains prisoner of its failed strategy that started with the acquisition of Westfield.” By Nick Corbishley, for WOLF STREET: Unibail-Rodamco-Westfield (URW), which, in addition to many properties in Europe, owns 27 malls in the the US, including the upscale Westfield San Francisco Center, reported a loss of €7.6 billion for 2020, after large write-downs.
All Westfield malls in US to be sold by 2023 - FOX 11 Los Angeles
Locations in southern California include, Century City, Culver City, Sherman Oaks, Santa Anita, Canoga Park, and Valencia. The company didn't elaborate on whether the malls will be sold together ...
Westfield Group -- Company History
Statistics: Private Company Incorporated: 1848 as Farmers Mutual Fire Insurance Company of Medina County Employees: 2,000 Sales: $1.3 billion (2004 est.) NAIC: 524126 Direct Property and Casualty Insurance Carriers Company Perspectives: A Leader Today. A Leader Tomorrow. Westfield today is a leading regional insurance group.
List of Westfield shopping centres - Wikipedia
A list of Westfield-brand shopping centres may refer to: . List of Scentre Group properties, operations in Australia and New Zealand; List of Unibail-Rodamco-Westfield properties, operations in Europe and the United States
Westfield parent company planning to sell US malls - FOX 11 Los Angeles
Back in September 2020, Westfield's Molly Unger showed FOX 11 the way its Culver City location was ready to welcome back shoppers. While the mall is back open, Westfield shopping malls across the ...
Who is the chairman of Westfield?
Speaking at a news conference in Sydney, Westfield chairman Sir Frank Lowy, the billionaire property tycoon who co-founded Westfield in the 1950s said the sale to Unibail-Rodamco would create "the leading shopping centre company in the world".
How many Westfield stores are there in the UK?
There are 35 Westfield shopping centres in the UK and the US, while Unibail-Rodamco has 71 sites in Europe. Unibail-Rodamco said the takeover would result in a "progressive roll-out of the world famous Westfield brand".
Why do people like Westfield?
Kate Hardcastle helped the Westfield Corporation with it future retail strategy in 2012, but has no continuing relationship with it: "Customers like Westfield's shopping centres because they're not just places to buy things. They try to be aspirational destinations that seek to entertain and include everyone. In their luxury sections there is never an aloof atmosphere which makes people feel unwelcome.
What is the second major deal involving shopping centre owners?
The takeover is the second major deal involving shopping centre owners to emerge in just over a week.
Who was knighted by the Queen?
Sir Frank Lowy received a knighthood from the Queen. Christophe Cuvillier, chief executive of Unibail-Rodamco, said the acquisition of Westfield "adds a number of new attractive retail markets in London and the wealthiest catchment areas in the United States".
What was the Westfield Group's conduct?
The Australian Competition and Consumer Commission investigated several disputes between the Westfield Group and its tenants. In 2004 the Commission found Westfield was abusing its market and commercial power in settling disputes with tenants, and forced Westfield to formally undertake to not engage in "Unconscionable conduct and intimidation" of tenants.
How much did Westfield make in 1971?
For the first half of 1971, Westfield reported earnings of $886,382. The expansion into the United States began with the purchase of the Trumbull Shopping Park in Connecticut in 1977, and was followed by three centres in California, Michigan and Connecticut in 1980 and three centres in California, New Jersey and Long Island, New York in 1986.
What is Westfield Group?
Westfield Group undertook ownership, development, design, construction, funds/asset management, property management, leasing, and marketing activities. The multinational company was listed on the Australian Securities Exchange and had interests in and operated one of the world's largest shopping centre portfolios with investment interests in 103 shopping centres across Australia, the United States, the Netherlands, the United Kingdom, New Zealand, Italy, Croatia, Poland, Czech Republic, and Brazil, encompassing around 23,000 retail outlets and total assets under management in excess of A$63 billion.
Why was ticketless parking removed?
This feature was removed in 2016 due to concerns that the system could be used "to track the movements of others" by giving the wrong car numberplate on registration of the phone number.
When did Westfield Derby open?
On 9 October 2007 Westfield opened the £340m extension and refurbishment of Derby 's Eagle Centre, which saw the shopping centre rebranded " Westfield Derby ". The centre was subsequently sold to Intu in 2014.
When did Westfield sell its shopping centers?
On 9 May 2006, Westfield announced the sale of eight United States shopping centres which it deemed to fit outside its strategic plan, to Centro Properties Group.
When did Westfield start in New Zealand?
In the 1990s , Westfield began a major expansion to New Zealand, where they mostly bought existing shopping centres of the Fletchers company, progressively rebranding them. Only in 2007, with Westfield Albany, did the company open a fully new centre in the country.
What is Westfield Corporation?
www .westfieldcorp .com. Westfield Corporation was an Australian commercial real estate company and operator of shopping centres. It was founded with the spin-off of the Westfield Group in 2014, where assets in Australia and New Zealand formed the Scentre Group and assets in the United Kingdom and United States formed the Westfield Corporation.
How many malls did Westfield own?
Westfield had interests in over 100 shopping malls worldwide, including the United States, the United Kingdom, France, Spain, Germany, Poland, Sweden, The Netherlands and Italy.
When did Westfield start in New Zealand?
In the 1990s , Westfield began a major expansion to New Zealand, where they mostly bought existing shopping centres of the Fletchers company, and progressively rebranded them. In 2007, with Westfield Albany, the company opened a new centre in the country.
When did Westfield sell its shopping centers?
On 9 May 2006, Westfield announced the sale of eight United States shopping centres which it deemed to fit outside its strategic plan, to Centro Properties Group.
When was Westfield Place built?
The first development of the Westfield Corporation was named "Westfield Place", and opened in July 1959 in Blacktown. The name Westfield is derived from "west" related to the West-Sydney location, and "field" due to having been located on subdivided farmland. The centre was opened by John Saunders and Frank Lowy.
When did Westfield Labs take over?
Westfield accepted a A$32.8 billion takeover offer from Unibail-Rodamco, excluding Westfield Labs, on 12 December 2017. The takeover was completed, and parent company was renamed Unibail-Rodamco-Westfield, in June 2018.
When did Westfield merge with Unibail?
For the company that operated from 1960 to 2014, see Westfield Group. For the company that merged with Westfield Corporation in 2018, see Unibail-Rodamco-Westfield.
Overview
Westfield Group was an Australian shopping centre company that existed from 1960 to 2014, when it split into two independent companies: Scentre Group, which owns and operates the Australian and New Zealand Westfield shopping centre portfolio; and Westfield Corporation, which continued to own and operate the American and European center portfolio.
History
The Westfield Group had origins in the western suburbs of Sydney. The first development was named "Westfield Place", and opened in July 1959 in Blacktown. The name Westfield is derived from "west" related to the West Sydney location, and "field" due to having located on subdivided farmland. The centre was opened by John Saunders and Frank Lowy.
The company was floated on the Australian Securities Exchange in 1960 and built another five ce…
Operations
Despite the Westfield Group's asset dimensions, the Westfield Group was strongly controlled by the Lowy Family Group, including non-executive chairman, Frank Lowy, one of its founders. Lowy's two younger sons, Steven and Peter, were joint managing directors.
Having been established in Australia, with their original premises being at Blacktown, the Westfield Group continued to operate a large number of shopping centres in Australia.
Relationship with tenants
The Australian Competition & Consumer Commission investigated several disputes between the Westfield Group and its tenants. In 2004 the Commission found Westfield was abusing its market and commercial power in settling disputes with tenants, and forced Westfield to formally undertake to not engage in "Unconscionable conduct and intimidation" of tenants.
Also in Australia, Westfield fee structures and policies were criticised by retailers who operated i…
External links
• Official website