November 23, 2024 4:44 am
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Macy’s to close 125 stores. How bad for regional mall sector? [VIDEO]

We spoke with Barbara Byrne Denham, senior economist with Moody’s Analytics REIS, about the potential impact of the closings.

NREI

Regional mall landlords are having a busy start to 2020. Just a day after news emerged that Simon Property Group and Brookfield Property Partners will be buying bankrupt mall mainstay Forever 21 in order to keep the chain afloat, Macy’s announced it will be closing 125 of its stores over the course of the next three years.

The news is not entirely unexpected—our contributing writer Liz Wolf included a forecast for hundreds of Macy’s closings in her tally of potential 2020 store closings—but it clarified that the department store chain would like to take its focus away from the mall sector, according to comments made by Macy’s CEO Jeff Gennette during an investor presentation on Wednesday.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.