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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.
John Sebree will the head the program.
Walker & Dunlop arranged the financing with Aareal Capital.