Palm Desert mall still open as signs come down; city says it’s monitoring situation

The exterior signage for the Palm Desert shopping mall has been removed as the property enters

The exterior signage for the Palm Desert shopping mall has been removed as the property enters into scheduled receivership as part of plans to sell the mall.

The shopping center remains operational despite the removal of the signs, a situation Palm Desert city officials say they are monitoring closely.

Unibail-Rodamco-Westfield Group, a European property company and owner of the Westfield Palm Desert, plans to divest most of its U.S. assets and use those funds to reduce its debt. 

The sale plans, first confirmed this summer, include transitioning management of the property to a third-party receiver. The mall will remain open under the receiver’s ownership, according to a URW spokesperson.

More:Westfield Palm Desert mall owners look to sell entire shopping center

Palm Desert city officials said they were following the situation due to the mall’s economic importance in the community.

https://www.desertsun.com/story/money/business/2021/10/07/palm-desert-mall-still-open-signs-come-down-city-says-its-monitoring-situation/6039561001/