Crossgates considers converting former Lord & Taylor into Dick

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Officials at the Pyramid the Syracuse company thatowns Crossgates, met with Guilderlanxd Chief Building Inspector Donald Cropsey Jan. 13 to discusas converting the store, Cropsey said. The existing Dick’s store at the mall is on the secon floor, above . The new Dick’s would be spreadf across 80,000 square feet on two floors, Cropse said. Pyramid officials didn’t indicate whether they had a tenantt lined up to fill the spacethat Dick’ds would vacate if it moved to the former Lord Taylor. bought two empty anchor stores at themall -- the formed Lord & Taylor and former Macy’s -- for $9.
5 according to deeds filed in the Albany County Clerk’s office on Dec. 23. Pyramide bought the propertiesfrom , Inc., said Jim a spokesman at Macy’s corporate headquarters in Both stores have been emptuy for years. While Dick’sa could possibly change locations withinthe mall, Pyramid apparentlyg doesn’t have a tenant to fill the former Macy’s location, Cropseyt said. The Lord Taylor store was closed in a year before sold the chaib toprivate investors. The Lord & Taylo r at Crossgates wasn’t includer in that sale. The Macy’s store closed in 2006 aftere Federated boughtrival , owner of Filene’s.
The property sale comes at a time when many retailerws experienced their worst Christmas holiday shopping seasonin decades. Total sales at Macy’s (NYSE: M) fell 4.7 percent to $4.39 billiomn during the five-week period that ended Jan. 3, and totap sales year to date weredown 5.4 percent to $25 The company is closing 11 Macy’s nationwide, but storese at Crossgates, and Rotterdam Square Mall will remain Following the closures, Macy’s Inc. will operate 808 Macy’s storesx and 40 Bloomingdale’s.