Macy's Selling Portland Store

After more than 100 years of housing a department store, the building off Pioneer Courthouse Square that was home to Meier & Frank and then Macy's will soon have a new tenant.

Macy's announced Thursday that they have sold the building and will be closing their Portland store early next year. It is one of about 100 stores being closed by the retail giant so that they can focus on better performing ones.

The company said that they are making $36 million off the $54 million sale. They have not disclosed who the buyer is or what the plans are for the building.

The building opened in 1909 as home to Meier & Frank, which first opened in Portland in 1857.

Macy's bought Meier & Frank in 2005 and reopened the store as a Macy's two years later.

The top floors of Macy's are occupied by the luxury hotel, The Nines, which is not affected by the sale.