Leases

This is probably already Known, information, but in case anyone wasn't aware, all the remaining Transformco stores are listed as available for lease. TO BE CLEAR, I am NOT stating that these locations are closing!
As of right now, these locations are NOT closing. But being that they are available to lease, there's a possibility that they might close, down the line.
Honestly, I was surprised to see Guam on there, because I thought that it was extremely profitable, and they would like to keep that one open, at least. But being that they closed the Puerto Rico Sears, and most USVI Kmarts, it's possible that he wants to exit the US territories, at this point. But who Knows?

Anyway, I'm posting a link to each lease listing below:

Guam: https://transformcoproperties.com/wp-content/uploads/2020/08/GUKmart.pdf

The last St. Thomas Kmart: https://transformcoproperties.com/properties/at-tutu-park-mall/

Miami Kmart: https://transformcoproperties.com/properties/at-kendale-lakes-plaza/

Miami Sears: https://transformcoproperties.com/wp-content/uploads/2020/08/FLcoralgables.pdf

Orlando: https://transformcoproperties.com/wp-content/uploads/2020/08/FLorlando1.pdf

Braintree: https://transformcoproperties.com/wp-content/uploads/2020/08/MAbraintree12.4.24.pdf

El Paso: https://transformcoproperties.com/wp-content/uploads/2020/08/Cielo-Vista-Mall-Sears-Flyer.pdf

Concord: https://transformcoproperties.com/wp-content/uploads/2020/08/Brochure_1368.pdf

Comment! It's anonymous!

12 replies (most recent on top)

I worked at the Greensboro, NC, store, which closed in 2023. It had been listed as available to lease for a couple of years before it closed. They tore down the Sears store but left the portion of the building that Whole Foods rented. Nothing has been built there to replace it, even though it is prime real estate.

@c2 Boscov’s does pretty well. In fact, when it opens a new store, it often does so at a former Sears or JCP location. Profitable, popular, loyal customers, great service, well paid employees.

If you actually do the business of retail right, you can make money.

Getting close to the end for the closing stores, which one will be next? Braintree? Concord? Guam?

@qp+1k1s7xgc4 I mean ya! I'm surprised Ed would want to part with THAT Cash Cow store. I can understand closing every other, but Guam is basically a Cash printing press!

Walmart or Target should jump on the Guam location!!

Of course all the remaining stores are open to lease.

The strategy was never to run a retail department store.
The strategy was to make money off the underlying real estate.
For the most part, given the rise in online shopping, it was a poorly conceived strategy.

My local Sears - Paramus, NJ - was one of the more successful locations. But that didn't stop the store from closing in 2018 when a more attractive tenant came along. Because securing more attractive tenants was the endgame.

@e4+1k1s7xgc4 No sir (or no ma'am whichever applies), there are none left that aren't listed, as available for lease. In the OP above, he listed every single remaining store from both brands (8 total), all of which are potentially available as per the above links. Great question though! 😀

Not trolling, honestly asking.

Are there any stores that are open that aren’t for lease/sale?

To the poster below, it's spelled Macy's.

Its tough for a mom and pop department store chain to compete against big chains like Macies and Walmarts.

These stores have no signs anymore and inaccessible to the public. Vendors need a key code to enter for HVAC and security from homeless issues. Not rentable space. Malls are dying and these spaces are not desirable

Oh I just noticed that links are now clickable on this fine website. Great improvement! Also, I have no idea why he would want to lease out the Guam location, because by all accounts, that store is basically a Cash cow!
I doubt that one ever closes

Thread regarding Sears layoffs

Leases

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