- Associated Press - Saturday, October 10, 2015

SEATTLE (AP) - Macy’s says it’s selling the top four floors of its downtown Seattle store.

Seattlepi.com reports (https://goo.gl/aeANha ) Macy’s will sell floors five through eight of their building for $65 million to Starwood Capital Group for office space.

Macy’s chairman and chief executive officer Terry J. Lundgren said in a news release Friday the Seattle Macy’s store is “very successful” and they plan to remodel the remaining space.

Officials say the 300,000 square feet of space they’re selling was underutilized. None of the 265 employees at the store reportedly will lose their jobs.

The store first opened as The Bon Marche in 1929 and has 864,000 square feet of space. The name was changed to Macy’s in 2006.

Macy’s announced in September it will close up to 40 stores in early 2016.


Information from: Seattle Post-Intelligencer, https://www.seattlepi.com/

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