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Everything Must Go

Around the State – South JerseyDEPTFORD New Jersey’s malls are popular in California, too. The Macerich Partnership, the operating partnership of the Santa Monica-based Macerich Co., has acquired the entity owning the Deptford Mall for $241 million.

Deptford Mall is a two-level, 1.04 million-square-foot facility anchored by JC Penney, Sears, Macy’s and Boscov’s. The mall, which is 94 percent occupied, has average annual sales per square foot of approximately $507. Macerich also owns the Freehold Raceway Mall that was acquired in 2005 as part of the real estate investment trust’s $2.33 billion purchase of Wilmorite Properties and Wilmorite Holdings.

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