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Monday, Jun 5, 2023

Glendale Galleria to Get Target

Federated Department Stores Inc. said today that it has sold one of its stores in the Glendale Galleria to Target Corp. Federated has sold the former Robinsons-May store comprising 179,000 square feet as part of a transaction that also included stores in Westminster, Calif., Albuquerque and Springfield, Penn. The stores sold were duplicate operations that resulted when Federated acquired The May Department Stores Co. Federated has so far divested 62 of 80 duplicate locations it plans to sell. Federated did not release the details of the transaction. The company has previously said it expects proceeds from the total divestitures to be in the $400 million to $500 million range.

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