October 2, 2019 Comments Off on Macy’s Closing Landmark Downtown Seattle Store, Starwood Could Be Buyer Views: 1394 Seattle & Pacific Northwest News, Seattle News, Top Seattle

Macy’s Closing Landmark Downtown Seattle Store, Starwood Could Be Buyer

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Macy’s plans to close its iconic eight-story store in downtown Seattle early next year. The closure will end a 90-year run of retail in the space at 300 Pine St.

Macy’s Blair Rosenberg said in a statement, “After careful consideration, Macy’s, Inc. has decided to sell the Downtown Seattle Macy’s building.” However, she did not go into the reasons behind the decision to sell or a buyer.

While a new owner was not named, a likely candidate is Miami-based Starwood Capital Group, which already owns the majority of the building. Starwood claimed four floors of the eight-story building for $65 million in 2015, and added two more floors in 2017, bringing its footprint to roughly 475,000 square feet. Amazon leases the top six floors of the building, while Macy’s owned the two bottom floors and the basement.

Clearance sales will begin in January 2020, and the store will close at the end of February.

Read more at Seattle Times

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