After 50 years, the iconic Macy’s department store off Interstate 293 in Bedford is shutting down.
Dallas-based Encore Enterprises, Inc. has purchased the building and the 16-acre property for $12 million, according to Colliers International of New Hampshire, which brokered the sale.
The company plans to convert the site into an "upscale lifestyle center."
The center will be adjacent to the Goffe Mill Plaza redevelopment, which will be anchored by a Whole Foods Market.
Macy’s is expected to stay open through the December holiday season, with construction beginning in the spring.
The store has been on the site since the 1960s, opening originally as a Jordan Marsh location.
