Macy's Inc. announced on Friday it has completed a previously announced and expected real estate transaction with Tishman Speyer that will enable the re-creation of its Brooklyn store on Fulton Street.
Macy's owns and operates the first four floors and lower level of its
nine-story Fulton Street retail store which will undergo a three-year
remodeling initiative. Tishman Speyer acquired the remaining portion of
the store site and will pay Macy's $270 million in cash, of which the
company has allocated $100 million to remodel its store.. . . more