Hoffman Estates, IL — Sears Holdings Corporation has reached a definitive agreement for the sale of 11 Sears full-line store locations to General Growth Properties for $270 million.
Hoffman Estates, IL — Sears Holdings Corporation has reached a definitive agreement for the sale of 11 Sears full-line store locations to General Growth Properties for a purchase price of $270 million. The transaction is expected to close in the next 45 to 60 days, subject to customary closing conditions.
Each of the Sears stores is part of an existing General Growth property. The transaction includes the list of owned and leased stores listed below:
• 1450 Ala Moana Blvd., Honolulu, Hawaii (leased)
• 1481 Coral Ridge Ave., Coralville, Iowa (owned)
• 1201 Lake Woodlands, The Woodlands, Texas (owned)
• 20 Bellis Fair Pkwy, Bellingham, Wash. (leased)
• 1751 Madison Ave., Council Bluffs, Iowa (leased)
• 9405 W. Colonial Dr., Ocoee, Fla. (owned)
• 1001 Apache Mall, Rochester, Minn. (leased)
• 2000 N. Neil St., Champaign, Ill. (leased)
• 6191 S. State St., Ste 300, Murray, Utah (owned)
• 2501 W Memorial Rd., Oklahoma City, Okla. (owned)
• 1200 Towne Centre Blvd., Provo, Utah (owned)
The stores will continue to operate as Sears locations into 2013 with final closing dates to be determined and announced later this year.
Sears Holdings Corporation is one of the largest broadline retailers with over 4,000 full-line and specialty retail stores in the United States and Canada. Sears Holdings is the 2011 ENERGY STAR® Retail Partner of the Year. Sears Holdings Corporation operates through its subsidiaries, including Sears, Roebuck and Co. and Kmart Corporation. For more information, visit www.searsholdings.com.