Federated Selling Landmark Filene's
Vornado Realty Trust buys for $100 million
Gifts & Decorative Accessories -- Home Accents Today, 7/21/2006 11:33:00 AM
Federated Department Stores will sell the downtown Filene's store in downtown Boston to Vornado Realty Trust for about $100 million.
Opened in 1890, the 656,000-square-foot store was recently granted landmark status by the Boston Landmarks Commission in an effort supported by Vornado. The store was designated among the duplicate locations Federated previously announced for divestiture as a result of its acquisition of The May Department Stores Company; a Macy's outlet is located nearby.
The transaction is expected to be finalized in the fourth quarter of this year. With this agreement, Federated has now announced buyers for 57 of its 80 duplicate locations.
Talkback
Related Content
Related Content
