Facebook Inc. (NASDAQ: FB) is in discussions to take over luxury fashion retailer Neiman Marcus' space at Manhattan's Hudson Yards, according to a Women's Wear Daily report Sunday.What Happened Ares Management Corp. (NYSE: ARES) co-owned Neiman Marcus filed for a Chapter 11 bankruptcy in early May and can back out of its lease for the 188,000 square-foot store without any penalties."Neiman's wants out. Hudson Yards wants them out. They are figuring out an exit agreement," one of the people familiar with the matter told Women's Wear Daily."Facebook had signed an agreement in November last year to lease more than 1.5 million square feet of space across 30 floors in three buildings. About 265,000 square feet of this leased space is in the same building as the Neiman Marcus retail outlet, the Women's Wear Daily noted.Price Action Facebook shares closed 1.2% higher at $238.79 on Friday. The shares traded nearly 0.8% lower in the after-hours session at $237.See more from Benzinga * Apple Keeps Rejecting Facebook's Gaming App For iPhones, iPads, Sparking Another Antitrust Row * Facebook Will Allow Users To Turn Off All Political Ads * Amazon Tells Congress CEO Jeff Bezos Ready To Testify In Antitrust Probe(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. Read More...
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Facebook Inc. (NASDAQ:
FB) is in discussions to take over luxury fashion retailer Neiman Marcus’ space at Manhattan’s Hudson Yards, according to a Women’s Wear Daily
report Sunday.” data-reactid=”19″>
Facebook Inc. (NASDAQ:
FB) is in discussions to take over luxury fashion retailer Neiman Marcus’ space at Manhattan’s Hudson Yards, according to a Women’s Wear Daily
report Sunday.
What Happened
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Ares Management Corp. (NYSE: ARES) co-owned Neiman Marcus filed for a Chapter 11 bankruptcy in early May and can back out of its lease for the 188,000 square-foot store without any penalties.” data-reactid=”21″>Ares Management Corp. (NYSE: ARES) co-owned Neiman Marcus filed for a Chapter 11 bankruptcy in early May and can back out of its lease for the 188,000 square-foot store without any penalties.
“Neiman’s wants out. Hudson Yards wants them out. They are figuring out an exit agreement,” one of the people familiar with the matter told Women’s Wear Daily.”
Facebook had signed an agreement in November last year to lease more than 1.5 million square feet of space across 30 floors in three buildings. About 265,000 square feet of this leased space is in the same building as the Neiman Marcus retail outlet, the Women’s Wear Daily noted.
Price Action
Facebook shares closed 1.2% higher at $238.79 on Friday. The shares traded nearly 0.8% lower in the after-hours session at $237.
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<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.” data-reactid=”31″>© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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