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October 9, 2015

Macy's sells top floors in Seattle store for $65M

By JOURNAL STAFF

Macy’s said it sold the top four floors of its downtown Seattle store for $65 million.

Starwood Capital Group of Greenwich, Connecticut, is the buyer, and the firm plans to convert floors five through eight to office space.

The DJC reported in April that Macy’s was selling the upper portion of the building at 300 Pine St. as a “commercial condo interest” to Starwood.

Macy’s said in a press release it will reduce the store’s footprint from 363,000 square feet to 283,000 square feet by fall 2016. Today the store takes up an underground level and floors one through six. After the remodel, the store will take up the lower level and floors one through four.

Macy’s said it plans to keep all of the store’s 265 associates and existing merchandise types.




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