SoftBank-backed WeWork to buy NY property for $850m

SoftBank-backed WeWork to buy NY property for $850m

A guest attends the opening ceremony of WeWork Hong Kong flagship location in Hong Kong, China February 23, 2017. REUTERS/Bobby Yip

Canadian department store operator Hudson’s Bay Co agreed to sell its Lord & Taylor building for $850 million to SoftBank-backed WeWork Cos and shrink the flagship store on New York’s Fifth Avenue to a quarter of its current size, HBC said on Tuesday.

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