On the heels of news that Macy’s sold their Union Square Men’s Store to Morgan Stanley, the noted retailer just announced that they also plan to sell their 280,000-square-foot store at Stonestown Galleria for a whopping $41 million.
According to San Francisco Business Times, it’s all “part of the company's broader effort to shutter 100 stores and reduce its brick-and-mortar presence.”
The westside property was sold to mall operator General Growth General Growth. No word yet exactly what they plan to do with the massive property, but according to SF Examiner, “Macy’s will lease the store back from the owner as the company develops a plan for that location.”
- Macy's to sell San Francisco Stonestown Galleria store to mall operator for $41M [SF Business Times]
- Macy’s to sell Stonestown Galleria store [SF Examiner]
- Macy’s plans to sell Union Square Men's Store [Curbed SF]