Seritage To Sell Up To 50 Former Sears Properties To Fund Development Efforts

A passel of former big-box stores is about to hit the market, possibly opening up more retail-to-industrial conversion opportunities.
Seritage Growth Properties will be putting 40 to 50 of the former Sears sites it owns up for sale, Bloomberg reports. Seritage CEO Andrea Olshan, who took on the top role at the Sears real estate spinoff after leaving her family company, Olshan Properties, in February, called the properties she selected to sell off “less interesting in terms of uses of our capital” but expressed confidence in there being interest from potential buyers.
“The sales market’s robust in terms of demand,” Olshan told Bloomberg. “And lately, there…

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