Posted on by

Sears, Struggling to Sell Goods, Markets a Valuable Asset: Real Estate



Share

Shoppers may no longer come in droves for wrenches, watches or washing machines. But Sears, the once-ubiquitous department store that has been battered by the growth of e-commerce, may have one last thing of value to market: its own buildings.Starting about a decade ago — and accelerating over the past few months as its owner embarked on the equivalent of a clearance sale — investors have been betting on new uses for vacant Sears stores, from Santa Monica, Calif., to southern New Jersey.Many of the sites, often older, windowless hulks connected to shopping malls, are not straying far from their original mission: They’re being overhauled for new retailers.But some addresses, in line with a trend of repurposing dusty commercial prope …

Read More