The city has the power and capacity.

Macy's will focus on building out its luxury segment among other growth strategies.

The buyer was Interface Properties.

Warner Bros. will be the main tenant through a sale-leaseback.

Broadrange plans on using some of the property for distributing solar panel components.

Meanwhile, asking rents increased to $9.97 in the three months ending June.

The new rules go into force in February 2025.

The move will boost employment opportunities.