Since so many on here say there's no money in real estate, this article must be a lie.
Billionaire Lampert's New Sears Sells Largest Building of Its Kind in Florida
Price Alone Exceeds Any Annual Sales Total for the Local Market
https://www.costar.com/article/1567274932/billionaire-lamperts-new-sears-sells-florida-distribution-center?fbclid=IwAR0O8Si1sNuWU8fKljrH2gG7JsiKNWGW9_ngw_fTBFgJ03To3wI777lSXqs
Guess who owns the company that bought Ocala warehouse?
If your point is “wow, what a great sale” think again. ESL sold 169 acres and a 2 million square foot warehouse for $70 million or $35 a square foot with the land thrown in free. None of that benefits the sears and kmart stores or investors or vendors in any way. It only benefits Eddie. It also highlights how cheaply sears former property can be acquired.
Re posting to try and lose the point made on your last post? This is the Ocala warehouse that ESL obtained through a quit claim from the old Sears bankruptcy . ESL would be the only one profiting, the whole deal is a great example of how ESL has siphoned off assets for their own profit screwing over employees and shareholders
Did anyone say there was NO money in RE? I believe most posters would agree that a whole lot of Sears/Kmart real estate is terrible.
I know the Kmarts closing in Michigan are in old buildings in less than upscale areas. Already there are tons of old properties around that no one wants–probably still some unleased former Circuit City and Toys R Us buildings that are unappealing. Empty Kmarts aren't going to command premium pricing