Hard times call for innovation. In an effort to unload its excess real estate, Sears Holdings Corp. has reportedly launched a Web site dedicated to selling its closed stores. For this and other stories about retail and retail real estate, follow the links below:
- Fox Business reports that Sears has launched a Web site that sells vacant Sears stores. The Tribune provides additional details on the strategy.
- Marketwi.se makes the case that commercial real estate is not responsible for bank failures.
- Chicago Real Estate Daily reports that eight previously announced tenants have been cleared to open at the Block 37 development.
- Chron Business interviews David Simon about the local and national retail real estate market.
- Business Week reports that Simon Properties Group continues to insist Brookfield's reorganization plan for GGP is flawed.
- New York City is looking into banning traffic at Union Square to make way for a pedestrian plaza, according to 1010 Wins.
- Reuters reports that restaurant operator Magic Brands LLC has filed for bankruptcy and will sell most of its assets.
- New REIT's Excel Trust Inc.'s IPO priced below expectations, according to The New York Times.
- The Wall Street Journal reports that Macquarie Group Ltd. will no longer have a stake in Macquarie DDR Trust.