WeWork buys Lord & Taylor flagship store for $850 million

"The windows of our flagship location on Fifth Avenue have been making an impact on the New York fashion scene for more than 90 years." Lord & Taylor statement on website. Lord & Taylor's flagship store has been acquired by work-space leasing company WeWork for $850 million. WeWork offers shared workplaces in over 170 locations across 18 countries and plans to make revamp the Lord & Taylor headquarters into its own after the 2018 holiday shopping season. The company also plans to lease retail space with many other Hudson's Bay Co. department stores. Lord & Taylor also noted on its website that its headquarters, which has become a landmark in New York, was the first department store to move to Fifth Avenue and the first to have an elevator.