Wednesday, April 11, 2018

Some Sears Stores Are Being Auctioned Online

Some of Sears Holdings Corp.รข€™s stores, such as this one in the Twelve Oaks Mall in suburban Detroit, may be sold at an online auction as the struggling department store chain aims to cash in on its real estate. Troubled department-store chain Sears Holdings Corp. is looking to cash in on real estate, and some of its stores could be sold online.

Real estate services firm Cushman & Wakefield is partnering with Real Insight Marketplace, an online auction platform, to help Sears sell 16 profitable store locations. The stores, 15 of which are attached to malls, are being marketed as sale and lease-back deals, and some properties with agreements that allow modifications could be turned into self-storage, hotel or residential space.. . . more

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