The closures come as the department store chain plans to eliminate roughly 150 underperforming stores over the next three years.
Both stores join a growing list of Macy's closures in major metropolitan areas, including the Union Square store in San Francisco.
Construction of the 330,000-square-foot building started in 1962 and cost $13 million. It's been the west anchor of the mall on K Street from 3rd to 7th streets.
"We have had some pretty significant interest from players downtown that have been eyeing that for a long time, so we'll see what the future brings," he said.
Berry Broome, president of the Greater Sacramento Economic Council, said there is a need for support from the state.
The Macy's stores at the Arden Fair Mall and the Westfield Galleria at Roseville will remain open.
While Macy's is closing dozens of its stores, the department store chain plans to invest in 350 "go-forward" locations through 2026.
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