Sears Sells Its Stores Online

  • Apr 11, 2018
  • Marketplace In The News - Footwear News

Sears Sells Its Stores Online as It Struggles to Find Footing Amid Digital Pressures

It’s showtime for Sears Holdings Corp. as the struggling company hits the digital stage to sell a number of its stores in Texas and the Midwest.

Commercial real estate firm Cushman & Wakefield and online commercial real estate (CRE) bidding platform RealINSIGHT Marketplace have launched an online auction to help the department store chain offload 16 of its retail properties under the Sears banner. Five of the stores are located in Texas, four in Missouri, three each in Indiana and Ohio and one in Michigan.

Some of the Sears establishments for sale are anchor tenants in malls and shopping centers, while others are freestanding stores. They range from one to three stories high, with the larger buildings spanning nearly 245,000 square feet. All property bids are due by May 1, according to RealINSIGHT Marketplace.

The online auction comes after an increasing number of retailers are ditching underperforming stores amid heightened digital competition. Anchor stores such as JCPenney and Macy’s have seen their traditional businesses take a significant hit — and both department store chains have moved to trim their brick-and-mortar locations and throw more investments behind digital.

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