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NewsAlert HBC selling Lord Taylor building in New York for US850 million

TORONTO — Hudson’s Bay Co. (TSX:HBC) has signed a deal to sell its Lord & Taylor Fifth Avenue building in New York in a deal valued at US$850 million that will also see the retailer partner with workspace company WeWork.HBC also said that Rhone Capital, which has a joint venture with WeWork, will make an US$500 million investment in the retailer.More coming.

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