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Now the big question for local shoppers — Is Macy’s leaving?
According to the Collier I Alabama news release, the iconic department store has leased back the 231,500 square foot building for an undisclosed lease term and will continue to operate its store for the foreseeable future.
For folks who love shopping that at least means Macy’s should remain open to at least the holiday season, perhaps longer.
Brookwood Village’s Future
So, what’s next for Brookwood Village? Here are more details from the Colliers release.
“Sandner had been in discussions for several months with Fairway Investments and Pope & Land, the new owners of the adjacent, and largely vacant, Brookwood Village Mall and invited Fairway Investments to participate in acquiring the Macy’s property. With the commonality of ownership, the parties have agreed to form a joint venture to pursue a comprehensive master redevelopment plan for the entire Brookwood Village Mall site.”
This past August, Fairway Investments and Pope & Land purchased most of the building within the Brookwood Village footprint for $21 million. Here is our story on it.
After about a year of uncertainty, it looks like the the principals at Colliers I Alabama, Fairway and Pope & Land are looking forward to working together and revitalizing Brookwood Village
“We think joining forces with Fairway and Pope & Land is the best thing to do for this property, and we look forward to helping to create a truly special place in our community,” said Sandner.
Sims Garrison of Fairway Investments added, “Bringing the pieces together is paramount to helping Brookwood Village reach its full potential. While a lot of work lies ahead and many issues must still be resolved, we are excited to work with Colliers and Pope & Land to create a plan that will restore vibrancy to Brookwood Village.”
What’s Next For Brookwood
Over the next several months, the group has committed to “ formulate and refine” a long term plan for the area.
We all know the community anxiously awaits that plan.