Did Sears give back all of their Simon Mall Sear Stores? The Reit that they formed in the last couple of years. I heard something like that today. I know I am not wording it right? If you know anything please tell. Thanks,
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I found it. Thanks. That explains a LOT.
If you look to the right, the status is given in the boxes. You can see it better on a pc than your phone.
Still doesn't say which ten properties.
chart of Sears & GGP within the article
https://seekingalpha.com/article/3054056-assessing-the-value-of-sears-stores-in-general-growth-properties-malls
I don't understand. The mall & Sears own some of the Sears buildings that Sears pays rent on?
Please explain if you can.
Does anyone know the ten properties that were part of the General Growth Properties deal in 2015? I can't find it. The twelve with Simon were made public but the ten with GGP are a mystery.
Sears sold the joint ownership position to SRG.
There are other Sears stores (SHC-owned property) attached to Simon malls that aren't listed in the reply. Can we expect more to come?
Thank you.
The stores may or may not be closed but they are In JV's with Simon Property Group & General Growth Properties for the real estate which only re-affirms that the real estate of Sears is the only thing of value screw the stores
Sears contributed 10 Sears stores valued at $228 million to a joint venture with the mall operator and will take a 50 percent interest in the business. Sears will lease back the stores, which it will continue to operate, it said.
Sears also did similar joint venture with GGP. That agreement included 12 properties valued at $330 million.
The stores in the joint venture with Simon:
• Barton Creek Square, Austin, Texas
• Brea Mall, Brea, Calif.
• Briarwood Mall, Ann Arbor, Mich.
• Burlington Mall, Burlington, Mass.
• Midland Park Mall, Midland, Texas
• Nanuet Mall, Nanuet, N.Y.
• Ocean County Mall, Toms River, N.J.
• Santa Rosa Plaza, Santa Rosa, Calif.
• Woodland Hills Mall, Tulsa, Okla.
• Ross Park Mall, Pittsburgh