Life After Macy's
So, as we told you last week, Macy's is closing 14 stores nationwide, including two locations at the Westfield Promenade in Woodland Hills. Those two spots alone total more than 250k SF. illi Commercial president Todd Nathanson tells Bisnow the number of tenant prospects in the market for retail property of this size definitely run thinner, but he's confident that there are already plans in place from Westfield. Todd actually sold luggage for Robinsons Department Stores in those buildings in the '80s before it became Macy’s.
While the LA area is losing two Macy's outlets in Woodland Hills (above), it's gaining a complete overhaul of an old one. The Cincinnati retailer plans to build a new 155k SF store on two-levels to replace its existing spot at Westfield Century City. The existing store will be closed in January 2016 and razed.