Sears Launches Real Estate Site
Sears Holdings Corp. is jumping into the commercial real estate market in hopes of extracting more cash from its vast network of Sears and Kmart stores. The retailer has spent the past several months putting together an in-house team of real estate experts to find a way to make its chain of department and discount stores more productive. Sears expanded the effort in March by quietly setting up shop online under the moniker SHC Realty. The website touts an extensive, searchable database of thousands of Sears and Kmart stores available for sale, rent or partial lease as shops within the stores. Sears plans to unveil the program officially at the International Council of Shopping Centers' real estate convention in Las Vegas in May.