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Westside Macy's Sells To GPI Properties

Macy's, Pico Boulevard, L.A.

The Macy's storefront at Westside Pavilion has sold to GPI Properties for about $50M, or $227/SF.

The 220k SF storefront was bought by Cotillo La Pico LLC, an affiliate entity of GPI Properties, according to The Real Deal.

The storefront, one of the mall's anchors, was built 32 years ago. The mall itself, which is owned by Macerich Co., is undergoing major changes, including a reno.

Westside Pavilion, at 10800 West Pico Blvd., is also losing its Nordstrom store, which is relocating to Westfield Century City. The new store is expected to open in that mall this year as part of Westfield Century City's $950M redevelopment.