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Sears puts some St. Louis stores on the auction block

  • Apr 11, 2018
  • Marketplace In The News - Biz Journals

Sears Holdings Corp. is looking to sell some of its retail store locations, including two in the St. Louis area, through an online auction site.

Commercial real estate firm Cushman & Wakefield is working with online commercial real estate auction platform, RealINSIGHT Marketplace to help the troubled retailer sell 16 profitable store locations, the Wall Street Journal reports. According to RealINSIGHT's Sears portfolio site, stores at Mid Rivers Mall in St. Peters and South County Center in St. Louis County are among those being offered, as well as stores in Springfield and Cape Girardeau, Missouri, and in Texas, Michigan, Indiana and Ohio.

Fifteen of the stores are attached to malls, and all are being pitched for sale and lease-back with some available for modifications that could include self-storage, hotel or residential development, the Journal reports. Over 200 groups, including developers, retailers and real estate investment funds, have expressed interest, Cushman & Wakefield Managing Director Sean Hayes told the publication.

Bidders must register interest by May 1, after which shortlisted bidders will be invited to compete in real time on the RealINSIGHT platform in a second round.

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