Lampert Seeks Real Estate Sizzle by Shearing Sears Name: Retail
This article is for subscribers only.
Seritage Realty Trust’s homepage seeks to dazzle prospective tenants with illustrations of gleaming retail properties featuring landscaped parking lots filled with cars and shoppers. Seritage promises visitors “the locations you need in virtually every major U.S. market.”
It’s not immediately obvious that Seritage is connected to Sears Holdings Corp., the department-store chain struggling to attract shoppers and shake off a reputation for dilapidated locations. The 200-plus Sears and Kmart stores listed on the Seritage website are part of an effort by Chief Executive Officer Eddie Lampert to raise cash and turn around the Hoffman-Estates, Illinois-based company.