Macy's Sells Downtown Pittsburgh Building For Redevelopment; To Close Store

(RTTNews) - Macy's, Inc. (M) announced that it has sold its downtown Pittsburgh building at 400 Fifth Avenue to Philadelphia-based Core Realty, which is planning a major mixed-use redevelopment for the historic building. Macy's will close its store in that location.

The company said a final clearance sale in the downtown Pittsburgh store will begin on Monday, July 20, and is expected to run until early September.

According to the company, about 30 Macy's associates who work in various district offices on the 11th floor of the downtown Pittsburgh building will be relocated to space in another Macy's store in the Pittsburgh area.

Going forward, Macy's workforce in the Greater Pittsburgh area will include about 2,450 associates.