INDIANAPOLIS-Locally based Simon Property Group Inc. has signed a definitive agreement with Federated Department Stores Inc. to purchase seven Federated buildings located at Simon properties.

The properties include: Filene’s at Burlington Mall, Burlington, MA; Macy’s at South Shore Plaza, Braintree, MA; L.S. Ayres at Castleton Square Mall, Indianapolis; Marshall Field’s at University Park Mall, Mishawaka, IN; Famous-Barr at Eastland Mall, Evansville, IN; L.S. Ayres at Greenwood Park Mall, Greenwood, IN; and Macy’s at Pheasant Lane Mall, Nashua, NH. The companies also announced lease terminations at Macy’s at Northshore Mall, Peabody, MA, and Macy’s at Ross Park Mall, Pittsburgh.

The department stores are part of Federated Department’s previously announced for divestiture of 80 duplicate locations nationwide resulting from its acquisition of the May Department Stores Co. Federated execs went on to say the company intends to convert two stores to Bloomingdale’s: Robinson – May at Fashion Valley Mall, San Diego and Filene’s at Mall at Chestnut Hill, Newton, MA. Company execs expect the stores, located in Simon-operated malls, to reopen in the fourth quarter.

Officials with Simon Property Group also confirmed development plans for each of the properties where it has acquired or gained control of a store previously operated by Federated:

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

 

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.