REAL ESTATE

Macy’s going smaller in Pittsburgh

BY Marianne Wilson

New York City — Macy’s is reducing the size of its store in downtown Pittsburgh from nine floors of retail space to six (plus a mezzanine).

The company has been moving some departments to lower floors since early this year. The store will remain open during the renovations.

"The store is being reconfigured for better flow among departments, making shopping easier and more convenient," the company said in a statement.

After the consolidation, Macy’s Pittsburgh’s flagship will have about 525,000 sq. ft. of space, making it about twice the size of the typical suburban store.

All 363 Macy’s employees will remain at the store, the company said.

Macy’s put the 13-story building that houses the store up for sale more than a year ago, with the intent of leasing back retail and office space (it is home to the chain’s regional and district offices). To date, however, it has not found a buyer.

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REAL ESTATE

Hibbett to open nine stores in October

BY Staff Writer

Birmingham, Ala. — Hibbett Sports announced plans to open nine stores in October.

The locations are in Pine Bluff, Ark.; Louisville, Ky.; Ada and Grove, Okla.; Aiken, S.C.; Giddings and Nacogdoches, Texas; Grundy, Va.; and Hartford, Wis.

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Hobby Lobby and Dollar Tree to open at Cumberland Crossing

BY Staff Writer

Millville, N.J. — Fameco Real Estate, LP said that Hobby Lobby and Dollar Tree have signed leases at Cumberland Crossing, located in Millville, N.J., bringing the shopping center to nearly 90% leased.

Cumberland Crossing is a 258,414-sq.-ft. community center anchored by Walmart. Hobby Lobby signed a lease for 58,822 sq. ft. and Dollar Tree signed a lease for 12,000 sq. ft.

Hobby Lobby and Dollar Tree will join Texas Roadhouse, Sally Beauty and DOTS, among others. A 17,000-sq.-ft. junior anchor opportunity adjacent to Walmart is available.

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