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Macy's to Close Nine Company Stores

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The first store closing announcements for 2012 are in. On Wednesday, Macy's announced it will close nine underperforming stores, including five Macy's locations and four Bloomingdales.

The five Macy's stores slated for closing are located in the middle of the country, including Ohio, Maryland, Tennessee and Kansas. In their stead, Macy's will open five new namesake stores in New York, California, Illinois, Utah and Wisconsin.

The five Bloomingdale's stores scheduled for closing are located in Georgia, Illinois, Maryland and Minnesota. Macy's has already announced the opening of a new Bloomingdale's at Glendale Galleria in California and will build a smaller format replacement store for a store in Palo Alto, Calif.

Macy's will also open five Bloomingdale's Outlet stores in 2012.

All of the closings will take place in early spring.

The CRE Review has published a breakdown of CMBS exposure to the properties housing the ill-fated stores.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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