VORNADO TO SELL BROADWAY MALL ON LONG ISLAND FOR $94M

HICKSVILLE, N.Y. — Vornado Realty Trust has entered into an agreement to sell Broadway Mall in Hicksville, an unincorporated town on Long Island, for $94 million. The publicly traded REIT (NYSE: VNO) sold the 1.1-million-square foot Broadway Mall to an unidentified buyer for about 40 percent less than the $152.5 million it paid to purchase the property in December 2005. The mall includes the only Ikea store on Long Island, which is leased to the furniture retailer through 2088. Other tenants include Macy’s, Forever 21, a 12-screen movie theater and H&M and Target.