News
« Report: Federated Mulls Mall Epicenters | | Report: Top Donna Karan Exec Plans Exit »
July 11, 2006
Federated Sells Boston Landmark, Filene's
Federated Department Stores has sold its downtown Boston Filene’s property to Vornado Realty Trust for $100 million.
The first floor of Filene’s will be shuttered over the next few months, to make way for another big name retail player, such as Target or Kohl’s.
However, Filene’s Basement, located two floors below the flagship, has a different owner and will remain open.
Federated’s sale of Filene’s comes as part of a larger cost-cutting strategy to pair down its locations.
Posted by Blacks on July 11, 2006 09:37 AM
