Sears building to be sold; store will remain open

Sears Holdings Corp. has listed 16 of its Sears stores, including the Cape Girardeau location, in an online auction set to begin May 1, but the Cape Girardeau store will remain open, according to a company official.

Cape Girardeau Chamber of Commerce president and CEO John Mehner said Wednesday he understands Sears Holdings wants to sell.

"Sears [Holdings Corporation] is saying they would like to divest themselves," Mehner said. "They're not saying they're closing stores, they're saying they're trying to sell the real estate."

Howard Riefs, corporate communications director for Sears Holdings Corp., wrote in an email Wednesday that the store in Cape Girardeau is not expected to close.

"We are pursuing a sale/leaseback of the Sears store," Riefs wrote. "The store will then be leased by Sears (instead of owned) and remain open to the public."

Riefs added the company has executed a series of real estate transactions over the last 18 months that involved selling owned stores and the stores go on leases, then continue their operation, as part of an effort to enhance liquidity.

Commercial real estate firm Cushman & Wakefield has teamed up with Real Insight Marketplace to hold an online auction of 16 Sears locations, including the Cape Girardeau store, which is the only store up for bids not attached to a mall.

Stores in Missouri, Michigan, Texas, Indiana and Ohio are also on the block.

Bids are due by May 1, according to the online listing at marketplace.realinsight.com/customAuctions.

mniederkorn@semissourian.com

(573) 388-3630

Pertinent address:

330 Siemers Drive, Cape Girardeau, Mo.