Does anyone have a complete list of the 140 stores that will be sold to fund the pension?
17 replies (most recent on top)
TIA:
It wasn’t a list of the 140... it was research of ALL Sears locations’ ownership. Was pulled from a spreadsheet that had certain data extractions embedded. The article appearred roughly eight months ago. I discovered my location’s entire mall - including Sears - is under lease. I have yet to ascertain when that lease is up.
I do recall seeing other articles quote info from the original.
I will find it...just lucky to be working extensive hours lately.
@hor I know because it was mentioned at my store & an article in Banker & Tradesman confirmed it.
Alfred E Newman, the reason I ask is because I think its usually Halley Person(sp?) that usually posts the properties that are shut down. Im unaware of a published list of the "ring fenced" bankruptcy remote properties.
I'm usually pretty good on keeping up with the articles on the web but missed this one some how. I'm not sure what terms are left for me to search so I would appreciate at least a bit more direction.
TIA
Ah...I saved partial list but little else. I researched it about 8 months ago. DO recall it was a “he”haha —I will do MY homework and find the original article.
@Alfred E Newman, what’s the name of the author. You said it was a he?
For rxy: The Kmart across the street closed, but the Sears store inside Stratford Square is still open
If you are dilligent, there was a well-seasoned business reporter that researched every Sears location as to owner. He compiled and published the list. It was well presented and backed by reference points. Google it. Worth the time to find it. Looking back on that list in comparison to the stores sold to date lays out the plot to this story nicely.
@rxy And yes, several of the properties on the REMIC list are stores that have already closed (and even a few dead warehouses, IIRC), but SHC still owns the vacant building and will now be able to sell it to fund the pension.
@geq The vast majority Sears stores are in buildings that, even though part of a mall, have been owned by Sears for decades. SHC has been gradually selling off those buildings for years, most to the 'Seritage' real estate investment company set up by Eddie, and then Seritage (or in rare cases, some other owner) continues leasing the building back to the Sears store until either SHC decides it's no longer interested in keeping that store location open, or the building owner decides it can replace Sears with another tenant willing to pay higher rent.
The 140 REMIC properties are simply now able to be given the same treatment that hundreds of other still-open Sears stores have already had, the only difference is that the funds from selling a REMIC store's building go into the pension fund instead of into SHC's general operations fund. The REMIC properties are mostly in "B/C"-grade malls that are less likely to be in high demand with new tenants, so the new owner will want to keep Sears in the building as long as possible.
Wasn't the Kmart store st Strafford Mall liquidated in Aug 2017
How do you know the MA Sears was sold for 55mm?
The heck? The Westland, MI location is the Westland Mall. Wouldn't this be owned by the mall owner? Or would this be a case where Sears sells it's lease?
I don't know how this type of situation is handled but the Sears store building in Cambridge Mass was sold for $55 million with a short term leaseback in August 2017.
2819 Airport Way Fairbanks AK [**]
1141 14200 E. Alameda Avenue Aurora CO [**]
1221 1650 Briargate Blvd Colorado Spgs CO [**]
1271 8501 W Bowles Ave Littleton CO [**]
1831 Sears Grand Thornton Thornton CO [**]
1035 3450B Wrightsboro Rd Augusta GA [**]
1095 6580 Douglas Blvd Douglasville GA [**]
1155 400 Ernest W Barrett Pkwy Nw Kennesaw GA [**]
1565 1300 Southlake Mall Morrow GA [**]
1685 Gwinnett Place Mall Duluth GA [**]
2115 2215 Memorial Dr Ste 400 Waycross GA [**]
2845 3700 Atlanta Hwy Ste 270 Athens GA [**]
8745 4650 Hugh Howell Rd Tucker GA [**]
1172 Stratford Sq Mall Bloomingdale IL [**]
1321 2200 W War Memorial Dr Ste 998 Peoria IL [**]
1780 104 White Oaks Mall Springfield IL [**]
1820 Spring Hill Mall West Dundee IL [**]
1840 6501 95Th St Chicago Ridge IL [**]
2121 1607 36Th St Peru IL [**]
2250 105 Northwest Highway Crystal Lake IL [**]
1600 6020 E 82Nd St Ste 200 Indianapolis IN [**]
1650 Southlake Mall Merrillville IN [**]
1680 10202 E Washington St Indianapolis IN [**]
1800 6501 Grape Rd Mishawaka IN [**]
2290 Marquette S/C Michigan City IN [**]
1012 4000 Merle Hay Rd Des Moines IA [**]
2422 Southern Hills Mall Sioux City IA [**]
2760 320 W Kimberly Rd Davenport IA [**]
1642 1781 Sw Wanamaker Road Topeka KS [**]
1730 3000 Mall Rd Florence KY [**]
1790 4807 Outer Loop Louisville KY [**]
1077 3601 Southern Ave Shreveport LA [**]
1086 9001 Cortana Mall Baton Rouge LA [**]
1116 4800 Millhaven Rd Monroe LA [**]
1147 6501 Blubonnet Blvd Baton Rouge LA [**]
1226 Sears Clearview Metairie LA [**]
1286 New Orleans Oakwood S/C Gretna LA [**]
2087 Alexandria Mall S C Alexandria LA [**]
2677 Pierre Bossier Mall Bossier City LA [**]
1033 Emerald Sq Mall N Attleboro MA [**]
1104 521 Donald Lynch Blvd Marlborough MA [**]
1223 200 Westgate Dr Brockton MA [**]
1343 100 Cambridgeside Pl Cambridge MA [**]
2934 Silver City Galleria Taunton MA [**]
1074 11170 Mall Circle Waldorf MD [**]
1424 7103 Democracy Blvd. Bethesda MD [**]
1754 701 Russell Ave Gaithersburg MD [**]
1854 8200 Perry Hall Baltimore MD [**]
1011 3622 Rivertown Pkwy Sw Grandville MI [**]
1092 35000 Warren Rd Westland MI [**]
1110 6780 S Westnedge Ave Portage MI [**]
1192 5500 Harvey St Muskegon MI [**]
1700 18900 Michigan Ave Ste 1001 Dearborn MI [**]
1720 14100 Lakeside Cir Sterling Hts MI [**]
1760 27600 Novi Road Novi MI [**]
2040 5575 B Drive N Battle Creek MI [**]
2180 1212 S Airport Rd W Traverse City MI [**]
1166 1740 Bonita Lakes Cir Meridian MS [**]
1306 1000 Turtle Creek Dr Hattiesburg MS [**]
1042 101 N Rangeline Rd Joplin MO [**]
1171 2825 S Glenstone Ave, Suite 500 Springfield MO [**]
1182 #3 Mid Rivers Mall Dr St Peters MO [**]
1222 250 S County Center Way Saint Louis MO [**]
1690 #1 Chesterfield Mall Chesterfield MO [**]
1822 Sears Grand Cape Girardeau Cpe Girardeau MO [**]
1314 51 Us Hwy #1 New Brunswick NJ [**]
1554 4409 Black Horse Pike Mays Landing NJ [**]
1614 S Orange Ave & Walnut St Livingston NJ [**]
1734 300 Quaker Bridge Mall Lawrenceville NJ [**]
1764 Route 90 & Mt. Hope Avenue Rockaway NJ [**]
1874 Rr 541 Box I-295 Burlington NJ [**]
1717 10000 Coors Bypass Nw Albuquerque NM [**]
2207 1000 S Main St Roswell NM [**]
1165 Carolina Mall Concord NC [**]
1375 3320 Silas Creek Pkwy Winston Salem NC [**]
1405 Cross Creek Mall Fayetteville NC [**]
1455 Independence Mall Wilmington NC [**]
1475 6910 Fayetteville Rd Ste 400 Durham NC [**]
1605 7330 Old Wake Forest Rd Raleigh NC [**]
1805 4601 Glenwood Ave Unit 1 Raleigh NC [**]
2175 240 Carolina East Mall Greenville NC [**]
2515 Valley Hills Mall Hickory NC [**]
1712 2800 S Columbia Rd Grand Forks ND [**]
1051 17271 Southpark Ctr Strongsville OH [**]
1120 5053 Tuttle Crossing Blvd Columbus OH [**]
1210 1400 Polaris Parkway Columbus OH [**]
1710 5000 Great Northern Mall North Olmsted OH [**]
1810 Eastgate Mall Cincinnati OH [**]
2010 Richland Mall S/C Mansfield OH [**]
2390 Upper Vly Mall S/C Springfield OH [**]
1545 205 W Blackstock Rd Ste C Spartanburg SC [**]
1595 700 Haywood Rd Greenville SC [**]
2305 3101 N Main St Anderson SC [**]
2855 Citadel Mall Charleston SC [**]
1027 750 Sunland Park Dr El Paso TX [**]
1076 2401 S Stemmons Fwy Ste 5000 Lewisville TX [**]
1176 999 Pasadena Blvd Pasadena TX [**]
1187 Town East Mall Mesquite TX [**]
1217 1305 Airline Rd Corpus Chrsti TX [**]
1267 1800 Green Oaks Rd Fort Worth TX [**]
1297 1101 Melbourne Rd Ste 7000 Hurst TX [**]
1307 4310 Buffalo Gap Rd Abilene TX [**]
1317 8401 Gateway Blvd W El Paso TX [**]
1327 1000 San Jacinto Mall Baytown TX [**]
1337 851 N Central Expwy Plano TX [**]
1367 6001 W Waco Dr Waco TX [**]
1377 7925 Fm 1960 Rd W Houston TX [**]
1387 7701 1-40 W Ste 400 Amarillo TX [**]
1407 6461 Eastex Fwy Beaumont TX [**]
1417 20131 Highway 59 N Humble TX [**]
1427 6909 N Loop 1604 E San Antonio TX [**]
1437 Parks Mall Arlington TX [**]
1447 4900 S Hulen Street Fort Worth TX [**]
1487 11200 Lakeline Mall Dr Cedar Park TX [**]
2197 10000 Emmett F Lowry Expy Texas City TX [**]
2247 Mall Del Norte Laredo TX [**]
2497 Sunrise Mall Brownsville TX [**]
2547 Post Oak Mall College Station TX [**]
2557 Longview Texas Mall Longview TX [**]
2587 Golden Triangle Mall Denton TX [**]
1029 4700 N Division St Spokane WA [**]
1038 14720 E Indiana Ave Spokane WA [**]
1099 1701 S 320Th St Federal Way WA [**]
1139 301 Southcenter Mall Tukwila WA [**]
2029 9 E Valley Mall Blvd Union Gap WA [**]
2219 S Sound Ctr Lacey WA [**]
2309 10315 Silverdale Way Nw Silverdale WA [**]
It was also on this site in November
Also try sears ring fenced and pbgc
Although the 2017 list has not been released, the original deal to protect these properties was in March 2016
Nov 7, 2017 articles is when these properties were released from protection and will be sold to fund the pension. The article says it will take approximately 90 days to complete the deal with the pbgc so 2018 is going to be quite a year.
My store is on the original list 😩
It was posted several times over the past couple of months. Try searching for "REMIC".