BOSTON-Seven developers have bid on Downtown Crossing's landmark Filene's building. The winning bidder will likely redevelop the property, possibly for mixed uses, real estate executives familiar with the building tell GlobeSt.com. For previous coverage, click here.
The 656,000-sf building on Washington Street is being sold by Macy's owner Federated Department Stores Inc., which acquired the property when it purchased Filene's parent company, May Department Stores, earlier this year. A spokesman for Federated declined to name the firms that have bid on the historic 83-year-old building. Filene's is scheduled to vacate the building next year although Filene's Basement, which holds a long-term lease on the property, is likely to remain a tenant.
Real estate officials who requested anonymity tell GlobeSt.com that the property is likely to be redeveloped for mixed uses with the first floor remaining as retail space. The upper floors, the brokers said, could be turned into apartments or offices.
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