Both Macy’s department stores in the Florence Mall are for sale online, according to a recently published listing.
Florence, the second-most populous city in Northern Kentucky, is one of the region’s hubs for retail shopping. The Florence Mall was once the anchor of the city’s shopping district.
Throughout the 21st century, the mall has declined. According to a report from LINK’s media partner, WCPO, as of January, the mall’s vacancy rate is approaching 50%, and all four anchor-store buildings are now seeking buyers.
Macy’s owns two separate anchor department stores inside the mall: a Macy’s Home Goods store and a traditional Macy’s.
A real estate listing from Lee & Associates shows that the larger Macy’s is selling for $8 million, while the smaller Macy’s is selling for $5 million. The listing states that both can be purchased together for $13 million or separately at the individual asking prices.
Currently, both Macy’s locations are still open for business. The mall itself is owned by Long Island-based Mason Asset Management.