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Westfield buys 2 San Diego buildings from Macy's

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Westfield buys 2 San Diego buildings from Macy's

bought twobuildings at the Westfield Mission Valley mall in California from Macy's for$16.5 million, WWD reported March 25.

Thesale-and-leaseback deal was for a 353,000-square-foot department store and anearby 5,500-square-foot building with a restaurant, according to the report. Ahome store at the mall was not included in the sale.

TheSan Diego mall's tenants include Bloomingdale's, Marshall's, Nordstrom Rack,Target, Victoria's Secret, Old Navy and PacSun.

WWDquoted a Macy's spokesman as saying that the transaction with Australia-listedmall landlord Westfield was "a one-off opportunity" and is notconnected to any other deal.

Earlierthis year, Macy's saidthat it will close 40 stores nationwide.