M
acy's has divested two retail properties in South Florida, selling them for a combined $28 million. In Boynton Beach, an affiliate of Washington Prime Group acquired a 224,396-square-foot department store at the Boynton Beach Mall for $15 million. The sale price translates to $67 per square foot. This property was previously owned by Macy's, which acquired it in the 1990s as part of its purchase of Burdines, a now-defunct Florida-based department store chain.

    Washington Prime Group also owns the Boynton Beach Mall and is currently marketing the 91-acre site for sale with plans for a mixed-use development featuring at least 1,700 apartments. The mall has been on the market since last year. Additionally, Cinemark and Christ Fellowship Church own separate parcels of land within the property.

    Macy's sold another retail property in Pembroke Pines this month to an affiliate of Lotte Plaza Market for $13 million. This sale includes a 50,111-square-foot furniture and mattress store located within the footprint of Pembroke Lakes Mall. The buyer paid $259 per square foot for the property, which was developed by Burdines in 1997.

    Macy's is leasing back the furniture store from Lotte Plaza Market, while an adjacent retail building is leased to Floor & Décor. In February, Macy's sold a furniture store in Boca Raton to Christ Fellowship Church for $23.5 million. The company is temporarily leasing the property until it finds a new location.