New England Development paid $31.75 million to acquire the Westgate Mall.
Although it wasn't immediately clear what the sale means for Westgate, Doug Karp, executive vice president with New England Development, said, "We believe in this location for retail and are currently working on several ideas to enhance the center."
Westgate Mall, at the intersection of Rte. 27/Reynolds Memorial Highway and Rte. 24, is on 50 acres. It has more than 65 specialty retailers. Major tenants include Macy's, Sears, Best Buy and Marshall's.