Has sears been renewing any leases for mall based stores or are they just closing them as they come due?
And if they do renew leases does anyone know how long the new leases are for?
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Our Sears store is on a one year lease that was renewed last month.
A standard commercial lease is 3-5 years
as @moh stated, somewhere in the middle
Our lease is up in October 2019 wonder what will happen to our store
No landlord wants Sears to remain after BK. Screwed the landlords and a terrible tenant for a mall.
The contract controls. Eddie and the lessee will meet in the middle of whatever makes the most sense for both sides for each individual property. Eddie already got rid of most of the leases he hated long ago, and broke the rest in Ch 11.