Federated to sell 10 department stores to Boscov's
07 Feb '06
2 min read
Federated Department Stores Inc and Boscov's Inc have signed an agreement for Boscov's to acquire 10 mall department store locations from Federated.
All 10 are duplicate locations Federated previously announced for divestiture as a result of its acquisition of The May Department Stores Company.
The following locations are included in the sale agreement, with a transaction expected to be completed in the second quarter of 2006:
-- Kaufmann's Monroeville Mall, Monroeville, PA (262,000 sq ft; opened in 1987)
-- Kaufmann's South Hills Village, Pittsburgh, PA (258,000 sq ft; opened in 1987)
-- Macy's Marley Station, Glen Burnie, MD (267,000 sq ft; opened in 1987)
-- Macy's Owings Mills, Owings Mills, MD (267,000 sq ft; opened in 1986)
-- Macy's White Marsh, Perry Hall, MD (198,000 sq ft; opened in 1981)
-- Strawbridge's Deptford Mall, Deptford, NJ (173,000 sq ft; opened in 1995)
-- Strawbridge's Lehigh Valley Mall, Whitehall, PA (173,000 sq ft; opened in 1995)
-- Strawbridge's Montgomery Mall, North Wales, PA (184,000 sq ft; opened in 1995)
-- Strawbridge's Oxford Valley Mall, Langhorne, PA (178,000 sq ft; opened in 1995)
-- Strawbridge's Willow Grove Park, Willow Grove, PA (235,000 sq ft; opened in 1988)
Clearance sales at these locations began on Jan. 29, 2006. Macy's will continue to serve customers in these malls, including in locations where May Company nameplates will be converted to Macy's.
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