Overview
- Macy’s formed a joint venture with TMG Partners to evaluate future uses for its roughly 400,000-square-foot Union Square complex on Geary Street between Powell and Stockton.
- Mayor Daniel Lurie announced the Union Square store will remain open indefinitely while redevelopment options are assessed.
- TMG’s Michael Covarrubias said the study will consider adaptive reuse, with housing among the possibilities, and more details are expected in the coming months.
- A Macy’s spokesperson confirmed no closing date is set, signaling a shift from the retailer’s earlier plan that had the flagship listed for potential disposition within a broader round of store closures.
- Union Square has logged recent leasing wins, including Uniqlo’s return and a new Zara flagship, as the area works to rebuild its retail base.