Vornado Sells Beverly Connection for $260M

Vornado Realty Trust has agreed to sell Beverly Connection, a 335,000-square-foot power center in West Hollywood, Calif., to an undisclosed party for $260 million.

Vornado said the property is unencumbered and that, once completed, the sale would result in a net gain of about $40 million.

Among the center’s tenants are Target, TJ Maxx, Marshalls, Men’s Wearhouse, Nordstrom Rack, Old Navy and Ross.

The sale is expected to close during the third quarter.