The sale of Lord & Taylor’s flagship Fifth Avenue store in Manhattan is not surprising considering the plight of retailers, but demand for buildings in major cities for conversion into co-working sites is still growing.
Canadian department store operator Hudson’s Bay Co agreed to sell its Lord & Taylor flagship building in New York for $850m to WeWork, in what may be a step toward easing tensions with activist investor Jonathan Litt.
The Italian eyewear company moved its headquarters from Parsippany, NJ, its home of 20 years, to Secaucus, NJ. The new office will work in tandem with the company's Fifth Avenue Global Design Studio and Showroom.
Nordstrom Inc said on Monday its founding family had suspended attempts to take the upscale retailer private for the rest of the year due to difficulties in arranging funds for the deal ahead of the holiday season.