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16 Sears stores are being auctioned off online

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

Cushman & Wakefield teamed up with RealINSIGHT Marketplace, an online auction platform, to sell a handful of Sears' stores.

More than a dozen of Sears Holdings SHLD ' stores are being auctioned off online.

Commercial real estate (CRE) services firm Cushman & Wakefield has teamed up with RealINSIGHT Marketplace, an online CRE auction platform, to help unwind some of the department store chain's assets.

The 16 retail properties (all under the Sears banner, not Kmart), which were reviewed by CNBC, are mostly attached to malls and located in suburban markets. Five are in Texas, four are in Missouri, three are in Indiana, three are in Ohio and one is in Michigan.

The Wall Street Journal reported Tuesday evening on the auctioning. A representative from Sears didn't immediately respond to CNBC's request for comment.

According to Cushman & Wakefiled, roughly 200 investor groups have expressed interest in bidding on the properties, WSJ wrote. All bids are due by May 1, RealINSIGHT Marketplace's website says.

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