Westfield to Buy St. Louis Area’s Largest Mall

Westfield America Inc. said it agreed to buy Northwest Plaza, the largest shopping mall in the St. Louis area, for $111 million from Paramount Group Inc. The mall has 1.8 million square feet of space and is anchored by Dillards, Famous-Barr, J.C. Penney and Sears. The purchase would give Los Angeles-based Westfield America four malls in the St. Louis area with a total of 4.1 million square feet of space and make it the market’s largest retail landlord. Overall, Westfield owns 24 shopping centers in California, Colorado, Connecticut, Maryland, Missouri, New York and Washington. The company is controlled by Australia’s Westfield Holdings Ltd. Shares of Westfield America were unchanged at $17.31 on the NYSE.