(For more retail coverage, click GlobeSt.com/RETAIL.)
CINCINNATI-Locally based Federated Department Stores Inc. hasagreed to sell nine units to Chicago-based General GrowthProperties Inc. Located in GGP malls, the stores total 1.4 millionsf.
"These store locations are prime real estate for us to transformthem into retail and entertainment destinations," says GGP's chiefexecutive officer John Bucksbaum. "We can replace them with anotherexciting department store or we could transform the space into acollection of retail shops and restaurants. The opportunities areendless."
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