LIMA — The Lima mall management group has purchased the Macy’s department store building for $3 million, according to real estate records from the Allen County Recorder’s Office.
A limited warranty deed was executed Oct. 5 and signed by Matthew Schroeder, vice president of the Cincinnati-based Macy’s Retail Holdings LLC, deeding the 15-acre, 655,000 square foot property to Mall at Lima, LLC.
Betsy Billinger, marketing director for Washington Prime Group which manages the mall, said Friday morning she was attempting to get a statement from the corporate office regarding the sale. No such statement was received by late afternoon. Phone calls and emails placed to Macy’s Retail Holding similarly were not returned Friday.
Rumors have swirled this year surrounding the future of the Lima retail store after the company announced pending store closures nationwide earlier this year.
In February Macy’s said it would close 125 stores over the next three years and would trim thousands of corporate jobs. The company reported it would also close several office locations throughout the country and would consolidate customer service centers.
The only Ohio stores targeted for closure at that time were the Northgate Mall in Greater Cincinnati, the Ohio Valley Mall in St. Clairsville and the Stow-Kent Plaza store in Stow.
In early September Macy’s CEO Jeff Gennette said the timeline for the store closings could be adjusted as Macy’s monitors the competition and recovery from the coronavirus pandemic.
“Retail today has been disrupted. And while that disruption creates challenges, it also holds opportunity,” Gennette said at that time. “With many competitors closing or struggling, we see the potential to bring new customers into our brands and gain market share.”