SAN FRANCISCO – The future of Macy’s flagship store in San Francisco’s Union Square is becoming clearer, more than a year after the retailer announced it was leaving.
Macy’s partners with TMG
What we know:
Macy’s said it has entered an agreement with real estate development firm TMG to determine the path forward and how to revitalize the location, as first reported by the San Francisco Chronicle.
The partnership comes after Macy’s announced in 2024 that it planned to close the Union Square location along with 149 other stores nationwide, citing shifts in the retail landscape.
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Exploring new uses for the landmark property
What’s next:
Under the new agreement, TMG will work with Macy’s to identify potential new uses for the more than 600,000-square-foot property.
City leaders called the agreement an encouraging step for the future of downtown San Francisco.
“Its a good day for our city. We are creating the conditions for success downtown, and this is a great example of what is working,” said Mayor Daniel Lurie.
Plans for redevelopment are still in the early stages, and a closing date has not been set. However, it appears Macy’s has no immediate plans to sell the Union Square property.