A Macy's store that closed in March after anchoring San Leandro's Bayfair Center shopping mall since 1957 is being converted into part of an R&D hub that a local developer is building.

San Leandro-based B3 investors is getting ready to convert the three-story Macy's building into 260K SF of R&D space that will be part of Speedway at Bayfair, a 400K SF center for innovation featuring flexible studio, production and R&D space.

The Macy's conversion will be the second phase of the tech center development, which recently completed a 140K SF, two-store building at Bayfair, the San Francisco Business Times reported.

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