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PHOENIX-Macy's West has announced it will close the Macy's store in Metrocenter due to poor performance.
The closing date for the 115,000-sf store will be released next week, a Macy's spokeswoman from Phoenix tells GlobeSt.com. She did not know when Macy's lease with Metrocenter expires.
Macy's has been an anchor in the 1.4-million-sf regional mall at 9602 Metro Parkway East since 1995 when parent company, Cincinnati-based Federated, acquired Broadway Southwest, which had a store in Metrocenter since its opening in 1974. The mall, located off Interstate 17 in the north central sector, is owned and managed by Indianapolis-based Simon Property Group Inc.
Industry experts say Macy's is the worst performing department store anchor in Metrocenter with just $11 million annual sales. Sales volume for the mall is reportedly $320 per sf for shops that occupy 10,000 sf or less and $245 per sf for all in-line shops.
The 130 Macy's employees at Metrocenter will be offered positions at other Macy's locations. San Francisco-based Macy's West operates six other stores in the Arizona market: Biltmore, Scottsdale, Paradise Valley, Fiesta Mall, Tucson Mall and Park Mall.
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