News
Blatteis & Schnur, Morgan Stanley Acquire Macy's Men's Store in San Francisco for $250M
January 26, 2017 • Posted in: Market News
SAN FRANCISCO — A partnership between Blatteis & Schnur and Morgan Stanley Real Estate Investing has acquired the 250,000-square-foot Macy’s Men’s Store located on Union Square in San Francisco for $250 million.
The joint venture will redevelop the eight-story property, located at 120 Stockton St., into a mixed-use, retail-driven center. Anticipated uses for the development include flagship retail, art galleries, artisanal food, upscale restaurants and creative office space.
A rooftop amenity is also being considered for the project, scheduled to open in 2021. Macy’s Men’s Store will remain as a tenant while the design, renovation and leasing of the new development progresses. Eastdil Secured acted as advisor to Macy’s Inc. in the transaction.
External Link: https://rebusinessonline.com/blatteis-schnur-morgan-stanley-acquire-macys-mens-store-in-san-francisco-for-250m/