Reuters is reporting that Macerich has put Capitola Mall and Northridge Mall in Salinas on the block (that is, the person who offers the most money for the mall can buy it).
Macerich is looking to offload many of its B Class malls, which are malls that generate at least $350 a square foot. Class A malls generate at least $450 per square foot.
Sources also report that Capitola Mall and Northridge Mall both have occupancy rates greater than 90%. Essentially, the malls would seem profitable, but not enough for Macerich.
Source: Macerich seeks to sell malls with lower sales rating - sources
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