Macy’s to sell, close downtown Portland location - KPTV - FOX 12

Macy’s to sell, close downtown Portland location

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PORTLAND, OR (KPTV) -

Macy’s Inc. announced Thursday they will be selling and closing their store location in downtown Portland.

In a release, Macy’s officials said the company has formed a strategic alliance with Brookfield Asset Management, a management company based out of Toronto, Canada.  

Macy’s will sell its downtown Portland location on Southwest 5th Avenue for $54 million.

The store will remain open through the holidays and will close in the spring of 2017.

A mainstay of downtown Portland, the store served as the flagship Meier & Frank department store for decades before Macy's bought it.

Macy’s plans to close several other stores, including the Lancaster Mall location in Salem.

Stores in San Francisco, C.A., and Douglaston, N.Y. will also close in 2017.  

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