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Spotlight on REITs: Westfield America

Money Manager | Monday, February 7th, 2011

Westfield America: This multibillion dollar company is based in Sydney, Australia, and is the largest retail property group in the world. They also have offices and holdings in the USA which make up the company of Westfield America. This company owns, builds and buy’s retail malls all over the USA. They first came to America in 1977 where it went on to acquire a huge amount of retail malls and properties, with a solid finical backing and a recognized name this company was bound to do well.

Westfield America is in the business of acquiring an existing mall to renovate it and expand it in order to draw in more clients from all over the state. Westfield America now owns 28 super regional shopping malls, 8 regional shopping malls, 3 power centers and 12 department stores giving Westfield America over 37.7 million square feet of retail space.

Globally, the Westfield name owns over 119 high end retail malls, which have a net worth of over $61 billion dollars. Making Westfield America part of a very lucrative and stable company worldwide, Since Westfield also has holdings in New Zealand, England and Australia.

Westfield America prides its self on being a retail mall that holds high end clothing and goods, as well as being futuristic and fashion forward, they do not want to be just another retail mall, they are looking to be a mall that lures in the rich and famous of the USA and abroad.

Westfield America came into the American market quite slowly, the first mall that they acquired was Trumbull shopping center in Connecticut, in 1977 after that they added three more malls to their portfolio in 1980, and three more in California in late 1986. Westfield America chose to create cluster markets in the east and west before it expanded into other areas of the country, knowing that the population was larger on the coasts, and the people tended to spend more money on luxury items. By 2005 Westfield America owned 15 shopping centers in the USA, spanning from the west to the east, and everywhere in between.

Westfield America also manages retail shops at some of the busiest airports in the USA, which helps in expanding their business and retail space, as well as getting the Westfield America brand seen and noticed in more places around the country.

Westfield America has over 460 million people visit there retail malls every year, making them a great team to partner with. Westfield America has partnerships with the following leading brands: Lexus, Nintendo, Fox, Visa, Porsche, Comcast, Disney, Discover and Dove chocolates. The corporation of Westfield America does an excellent job of giving exposure and account management to every partner that they have, creating company that is based on solid partnerships.

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