Headlines

Macy’s Adds Real-Estate Expert to Board

While it considers selling properties

Published

8 years ago

March 24, 2016

Macy’s Inc. (Cincinnati) has added a new board member to advise it on what to do with its real estate properties, which, in total, are valued at $21 billion.

Effective April 1, Four Corners Property Trust Inc. (Mill Valley, Calif.) CEO Bill Lenehan will join Macy’s board. Lenehan’s real-estate expertise extends into a variety of industry sectors, including net lease, restaurants, mall, office, residential and mixed-use properties.

According to Bloomberg, Macy’s is interested in raising capital by selling portions of its stores in New York, San Francisco, Chicago and Minneapolis. The company is also seeking to sell off some of its mall-based operations.

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