18.05.13 Sears Landlord

April 13, 2018
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SEARS-IOUSLY?

Real Estate Gamble as Retailer Auctions Stores

16 Sears locations – all of which are profitable, according to WSJ – are up for grabs in an online auction set for next month.

wanna be a landlord?

Bid to be a Sears Landlord

  • Bids due by May 1st.
  • No word if there is a minimum bid.
  • Advertised as sale-leaseback deals, meaning Sears would make rent payments to the winning bidders to remain in the space.
  • BUT it’s possible, depending upon lease terms, Sears stores could close or shrink to take up less space on the property.

Click To Make Bid

Sears’ Struggle

Sears unloading assets to get some badly needed cash.

Latest earnings: Sears’ revenue fell nearly 28% & sales dropped 15%A – its 25th straight quarter of declines (more than 6 years).

Sears, which also owns Kmart, has closed hundreds of stores since the start of 2017.

And then there were none… Later this year, Sears will close its last department store in Chicago, where the company was based for more than 100 years.

  • Castleton Square Mall, Indianapolis, Indiana
  • Southlake Mall, Merrillville, Indiana
  • University Park Mall, Mishawaka, Indiana
  • Twelve Oaks Mall, Novi, Michigan
  • 330 Siemers Dr., Cape Girardeau, Missouri
  • South County Center, Mehlville, Missouri
  • Mid Rivers Mall, Cottleville, Missouri
  • Battlefield Mall, Springfield, Missouri
  • Great Northern Mall, North Olmsted, Ohio
  • Richland Mall, Mansfield, Ohio
  • SouthPark Mall, Strongsville, Ohio
  • Parkdale Mall, Beaumont, Texas
  • Deerbrook Mall, Humble, Texas
  • San Jacinto Mall, Baytown, Texas
  • Rolling Oaks Mall, San Antonio, Texas
  • Plaza Paseo Mall, Pasadena, Texas

by Jenna Lee,

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