UMiami Buys Macy’s Department Store for $40M
Complex expected to be used by University of Miami medical center
By Julia Echikson July 3, 2024 12:23 pm
reprints
Macy’s sold one of its aging department stores in Pinecrest, Fla., to the University of Miami for $40 million, property records show.
The 77,861-square-foot building sits on 4.6 acres at 13251 South Dixie Highway, east of the The Falls shopping mall, in the wealthy suburb southwest of Miami. The one-story property, which was built in 1972, is home to a Macy’s Furniture Gallery and Macy’s Furniture Clearance Center.
The Pinecrest complex will likely be turned into a University of Miami medical center, given that Stephen Wooldridge is listed in the deed. Since December, Wooldridge has served as the chief facilities operations and planning officer for the University of Miami Health System.
Representatives for University of Miami and Macy’s did not immediately respond to a request for comment.
The University of Miami Health System also is expanding its main medical campus in Miami’s Allapattah neighborhood, adding a 244,000-square-foot cancer facility that’s been under construction since 2022. The 12-story development received a boost thanks to billionaire Ken Griffin, who donated $50 million in March.
Julia Echikson can be reached at jechikson@commercialobserver.com.
