Lowes moving into the old Sears Manteno facility Crains Chicago reports.
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Doesn't have to do a thing except pay taxes, make all those interest payments and pay remediation costs every time a failing tenant moves out, which is why you need to lease out at a cost to cover these things. Even the dumbest mo–n can make money running a REIT, but Eddie can only run things into the ground.
All you people commenting are just stu-pid! Manteno had BOTH a Kmart and a Sears warehouse. The Sears one was closed first, and now Kmart is closing. Manteno is also off interstate 57, not interstate 55! Yes, it is about 30 miles from Chicagoland, putting it in the proximity of Chicagoland, but it's not actually in Chicagoland. Plus, if this is still owned by Innovel, that's a Lampert company, just as Seritage is, meaning he's going to continue making money off that by leasing it out- gets a rent check every month, and doesn't have to do a thing!
Innovel has a DDC in Columbis Ohio. They don't need two in the same area.
May 2019
The one building in the back is leased to PeeTee pet products. How long ago did Sears close the DDC in the front
a really smart strategic move for Lowes; who is seeking anything they can to beat out home depot. this location offers great access to chicagoland and i-55.
@obd+13JC6LX. So right, we used to call it Eddie’s “smoke and mirrors” routine. What’s interesting is that innovel is the one jettisoning Manteno. Innovel was supposed to be one of those “businesses” spun off that was going to save “Sears”. Hmmm, guess Innovel didn’t pan out either.
The ex-Sears (soon to be occupied by Lowe's) warehouse is on the east side of Manteno. The Kmart warehouse (scheduled to close) is on the west side of Manteno.
Manteno is not a Sears warehouse.It's a Kmart warehouse in the middle of no ware All Kmart will be closed soon. what will they need it for.
Eddie has zero interest in being a retail company. He is manipulating the law, pretending to be the most incompetent business person of all time, and pocketing massive amounts of money from Sears' lenders and various assets. He will eventually let the thing die once he has finished s—ing every last drop possible out of it. Smart but evil.
Yet another of countless examples of a company that can succeed where Eddie and his idi-t minions failed. Customers are an asset more valuable than real estate. Eddie is a Grade A mor-n who will never understand this.