Washington Prime Group Dumps Florida Malls During $1.1B Money Crunch; Edison Mall Included In Redevelopment Plans

Washington Prime Group is selling its Florida mall properties to help settle its massive debt. The group aims to clear its books of 10 shopping centers across the state.

The company has sold half its holdings since last year and plans quick sales for what's left. "As part of WPG's multi-year journey, the company continues to sell assets in its portfolio, with about half of WPG's properties sold in the past year, while the remainder of the portfolio is or will soon be on the market," the company said in a statement.

Up for sale: malls in Boynton Beach, Melbourne, Orange Park, and Coral Springs. The list stretches to Pensacola's University Center, Ocala's main mall, Tampa's Westshore site, and the retail hub in Altamonte Springs.

Staff cuts are a part of reducing its workforce, including senior executives, with all layoffs to be done by March 2026. 

Edison Mall is included in redevelopment plans along Cleveland Avenue. Plans might mix shops with new homes — both in and above the building — matching Cleveland Avenue's new look.

"The master plan goals are to design a community master plan to accommodate growth for the Cleveland Avenue area, to establish a vision to allow continued growth in the area while preserving the quality of life and sense of place enjoyed by current residents and to promote viable commercial development," said Mellone Long, assistant director of the CRA, to city officials.

The city backs this push with $22 million for street fixes. Workers will upgrade 2.5 miles of road that serves 48,000 vehicles each day, with work spanning five years.