INDIANAPOLIS — An Indianapolis department store which traces its roots to the late 1950s is closing.
Macy's at Glendale Town Center will shut down by April 1, leaving Castleton Square and Greenwood Park Mall as the two locations in the Indianapolis area still with a Macy's.
A Macy's spokesperson says the decision to close the Glendale store was a "difficult one."
Some Glendale employees may move to Greenwood or Castleton while those who don't will be eligible for severance.
Kite Realty Group, which owns Glendale, says the company is "excited" at the prospect of finding new uses for the Macy's site.
"This departure represents a significant mark-to-market opportunity, and by reacquiring control of such a central part of the center we're able to consider a wide variety of options and alternative uses to increase traffic, improve the visitor experience and maximize value of the asset" according to Tom McGowen, Kite's President and Chief Operating Officer.
The Glendale Macy's was originally an L.S. Ayres store when Glendale opened in 1958 as an outdoor shopping center.
Macy's took over in the 1990's and stayed when much of Glendale was demolished and redeveloped in 2007.
Traditional department stores have struggled in Indianapolis and nationally in recent years as the retail landscape has changed.
The Glendale Macy's will hold a clearance sale starting later this month.
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