According to the bare bones plans the retailer laid out, it will close 142 stores, leaving it with approximately 580, according to a CBRE Marketflash report, which cited locational data provider AggData.
CBRE writes that mall owners have anticipated Sears’ potential closure for several years and have made contingency plans that could mitigate the increased supply of available space.
Still, though, the journey ahead will not be easy for many landlords. “For mall or strip center owners facing the imminent shuttering of a Sears or Kmart, recovery will be a protracted process,” according to CBRE.. . . more