Retailer sells more 11 department store locations
visualstore.com
Federated Department Stores Inc. (Cincinnati) has signed an agreement to sell 11 department store locations to The Macerich Co. (Santa Monica, Calif.), a real estate investment trust.
The stores, all located within malls owned by Macerich, are: Filene's at Danbury (Conn.) Fair Mall; Macy's at Fiesta Mall (Mesa, Ariz.); Macy's at Paradise Valley (Phoenix); Macy's at Lakewood Center (Los Angeles); Macy's at Inland Center (San Bernardino, Calif.); Robinsons-May and a Macy's apparel-only store in The Oaks (Thousand Oaks, Calif.); Robinsons-May at Scottsdale (Ariz.) Fashion Square; Robinsons-May at Los Cerritos (Calif.) Center; Robinsons-May at Pacific View Mall (San Buenaventura, Calif.); and Robinsons-May at Santa Monica (Calif.) Place.
Terms of the sales were not disclosed, but Federated said it expects $400-$500 million in after-tax proceeds.
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