Guess who's coming to this building? Charles Mudede
In 2015, the top four floors of the historic eight-story building at 300 Pine Street was sold by Macy's to an investment firm in Greenwich, Connecticut, for a cool $65 million. Not long after the deal was settled, the firm began transforming the retail spaces into office spaces. This June, it was reported by Puget Sound Business Journal
that two more floors were sold to the investment firm, and the once magnificent department store had to squeeze its wares into the remaining two floors and the basement. Then on Monday, October 16, it was confirmed that Amazon was moving into the office spaces
Yes, Amazon will be on top of a company whose downfall its success initiated, a company that's closing "approximately 100 stores in the next few years," a company that anchored many malls across the country. And malls, or course, are the center of the service economy that replaced the industrial economy of the Golden Age of Capitalism (1947 to 1973). All you need to do is walk into the Macy's building to see the world-historic transition from one form of capitalism to another—post-service capitalism—in action. There are not many places in America where the drama of such a convergence (architecture and economics) can seen, felt, and heard directly.
I visited Macy's to buy some pants for winter and to suss out what remains of the mall-era retail giant.
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