University of Miami Buys Macy’s Department Store for $40M

Macy’s sold one of its aging department stores in Pinecrest, Fla., to the University of Miami for $40 million, property records show.

The 77,861-square-foot building sits on 4.6 acres at 13251 South Dixie Highway, east of the The Falls shopping mall, in the wealthy suburb southwest of Miami. The one-story property, which was built in 1972, is home to a Macy’s Furniture Gallery and Macy’s Furniture Clearance Center.



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