Northlake Mall’s Macy’s Up for Sale

Northlake Mall’s Macy’s Up for Sale

One of Macy’s 150 underperforming stores is on the block in Atlanta. SRS Real Estate Partners has listed the Macy’s at Northlake Mall. The Atlanta Business Chronicle reports he Northlake property includes the three-story store, which spans more than 190,000 square feet, and a parking lot with more than 950 spaces.

Fifty Macy’s stores are expected to close by the end of 2024, with the remaining expected to shutter by 2026. To determine which stores will close, Macy’s is evaluating potential real estate value and future sales growth. After the closures, Macy’s expects 350 stores to remain open in the United States and plans to upgrade those stores. The company plans to focus on its more luxurious offerings by opening 15 Bloomingdales and 30 Blue Mercury stores.

Scott Tiernan and Karla Smith of SRS Real Estate Partners are marketing the store.

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 Atlanta Commercial Real Estate News

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