Headlines

Lord & Taylor Sells Flagship Store

WeWork buys building in $850 million deal

Published

7 years ago

October 24, 2017

Lord & Taylor (New York) has agreed to sell its flagship New York store on Fifth Avenue to WeWork (New York) for $850 million. The store, which is still in operation, will remain open through the 2018 holiday shopping season.

At that point, the store will be redesigned into a smaller 150,000-square-foot Lord & Taylor store. As for the remaining space, WeWork will transform part of the building into shared office space and part as a new headquarters for the company.

According to USA Today, the acquisition is part of a larger deal in which WeWork will lease space in other stores from the banner’s parent company, Hudson’s Bay Co. (Toronto).

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design