Sears Pushes to Lease Space to Outside Retailers
Sears is in an active push to lease surplus space to other retailers. Its real estate division has listed on its website some 4,000 of its namesake and Kmart stores that have space for other merchants or retail operations to lease. According to a report, Sears has secured two lease deals, one with Western Athletic Clubs for 69,000 sq. ft. of a 273,000-sq.-ft. Sears store in Cupertino, Calif.