Hudson's Bay (HBC) has officially closed the sale of the Lord & Taylor Fifth Avenue building to office space provider WeWork for $850 million.
The century-old flagship store was sold to New York-based WeWork Property Investors in 2017. At the time, a portion of the Lord & Taylor store was set to remain open.
“This transaction reinforces HBC’s ability to identify undervalued real estate investments with great potential,” said Richard Baker, HBC executive chairman. “We continue to strengthen…
