Dozens of Ex-Sears Stores to Hit Market as CEO Culls Assets
- Seritage eyes unloading as many as 50 sites across the U.S.
- Company looking to generate cash for redevelopment plans
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The owner of former Sears stores is looking to sell as many as 50 properties as it tries to generate cash and focus on the development of other sites it owns.
Seritage Growth Properties, a real estate investment trust that emerged from the Sears bankruptcy, wants to unload 40 to 50 sites that “were less interesting in terms of uses of our capital,” according to Chief Executive Officer Andrea Olshan.