The new managing partner of the Valencia Town Center has changed the mall’s name to the Westfield Shoppingtown Valencia.
Westfield Group, the world’s largest listed retail property group, took over management, leasing and development of the 859,798-square-foot, bi-level Town Center from Urban Retail Properties Co. on Wednesday.
The Australian-based Westfield acquired a managing interest in the Santa Clarita Valley’s only mall from Miami Beach-based LNR Property Corp., which retains 50 percent of the mall, in a deal that closed Wednesday. Westfield owns the other 50 percent.
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