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Sears Holdings Corporation Message Board

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  • texasbroker2000 texasbroker2000 May 12, 2005 11:03 AM Flag

    I love to dable in real esate...

    Big Daddy, I too make my living in commercial real estate as a broker and investor. I don't agree with your comments regarding price. I haven't seen a leased retail investment of decent quality sell for $100 per square foot for some time. Also there are many locations which don't work for K Mart that might work for other big box retailers. For example in my market a K Mart was replaced by a Lowes.

    You also fail to mention the possibility that some of the locations will probably be used for denser redevelopments especially the in fill locations.

    I don't think that $100 per foot on average is unreasonable....while many might sell for less there will be several sold at a premium.

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    • Well obviously the terms of a leased property and the cash flow it provides will determine the value. But in this case we must assume all the stores to be sold will not have a tenant. As I understand it a lot of stores have already been PICKED over by other retailers and then with respect to k-mart you are left with the less desireable locations. With respect to sears many are mall locations and therefore how many new malls and or major tenants that locate in them are not already there or are in the process of merging and reducing redundant stores therfore adding more mall capacity with less tenants?

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