North Hollywood's Laurel Plaza, which houses a Macy's department store, has been sold for an undisclosed amount and the owner plans on replacing it with a mixed-use retail, multi-family development, the Los Angeles Times reports.
The 25-acre lot located at 6150 Laurel Canyon Blvd. was built in 1955.
Details about the selling price were not disclosed. A Macy's spokesperson did not return calls for comment.
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