Business Services Industry
Buyer of Pittsburgh Lazarus store building retreats.
Knight Ridder/Tribune Business News, October, 2004
Pittsburgh Post-Gazette Knight Ridder/Tribune Business News
Oct. 22--A deal to sell the Downtown Lazarus-Macy's store to developers from New York City is off, putting the empty 250,000-square-foot building back on the block just as the liquidation sale at the nearby Lord & Taylor department store begins.
"The property is no longer under contract," said Jean Coggan, a spokeswoman for owner Federated Department Stores Inc. "We are currently in discussions with other interested parties."
J.J. Operating Corp., a family-owned developer that has worked on vacant department stores in New York and New Jersey, announced in June it had agreed to buy the Fifth Avenue site for an undisclosed price. It expected to close on the property by the end...
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