Insight Reaches Deal To Buy Ballston Macy’s, Plans 555-Unit Development

Macy’s has found a buyer for its store in Arlington’s Ballston neighborhood, and the purchaser is planning a major development. 
Insight Property Group is under contract to acquire the property at 685 North Glebe Road, and it is planning to redevelop it into 555 apartments above 42K SF of retail, Insight principal Sarah Davidson confirmed to Bisnow. She said Insight hopes to break ground on the project by the first half of 2023.
The deal comes after Macy’s retained Cushman & Wakefield last year to market the property for sale. The department store retailer was struggling even before the coronavirus pandemic disrupted the industry, and it announced…

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