The Broadway Mall in Hicksville will be sold for $94 million, according to a news release from its owner, Manhattan-based Vornado Realty Trust.
The buyer was not disclosed, and a spokesman for Vornado, which is a real estate investment trust, declined to comment. The deal is expected to close in the first quarter of 2014.
The mall, home to Long Island’s only Ikea home furnishing store, was listed for sale by commercial real estate brokerage Cushman & Wakefield in November. Vornado told its investors in 2012 that it planned to reduce its mall portfolio and subsequently sold Green Acres Mall in Valley Stream to Santa Monica-based Macerich Co. for $500 million.
The Broadway Mall, which opened as the Mid-Island Shopping Plaza in 1956 and changed its name in 1989, has an occupancy rate of 92.6 percent, according to its sale listing. The 1.14 million square-foot shopping center’s major anchor tenants include Macy’s, Target, Forever 21 and H&M.
A broker on the listing did not return a request for comment late Monday afternoon.