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CBRE To Assist Macy's In Getting Rid Of Store Locations

Macy's

Macy's, which announced last year it would be closing dozens of stores, has turned to CBRE to help it offload many of those locations.

The retailer said yesterday it has already or will soon close 68 out of 730 stores. CBRE is helping with 33 former or soon-to-be former Macy's stores across 20 states, including Massachusetts, Michigan, Ohio, Pennsylvania and Texas.

CBRE recently boosted its flagship Retail Advisory and Transaction Services offerings with a focus on shopping malls, urban retail and dispositions.

"Many retailers are optimizing their store portfolios to focus on their best-positioned, most profitable operations,” said Brandon Famous, CBRE senior managing director and retail leader for the Americas.

Macy's announced the location of the stores it plans to shut down after disappointing holiday sales. The closures are part of the 100 planned store closings announced last year.

Related Topics: Macy's, CBRE Group Inc