Macy's is slashing the size of its brand-new global headquarters by nearly 40% in another drastic step to cut costs
The coronavirus has accelerated the pains felt by many big chains, especially department stores, which had already been struggling to deal with a fast-changing retail sector.Macy's is seeking a taker for 330,000 square feet it leased in Long Island City last year, according to a marketing document seen by Business Insider.
The sublease offering comes after the department store operator has been battered by the coronavirus crisis and announced layoffs and store closures. According to a marketing document seen by Business Insider, the department store operator has hired the real-estate services firm and brokerage CBRE to market just over 330,000 square feet for sublease at The Jacx, a 1.2-million-square-foot recently finished office building along Jackson Avenue near Court Square.
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