ATLANTA, GEORGIA (November 10, 2022) - When Sears spinoff Seritage Growth Properties begins liquidation of its assets, retail brokers and industry insiders expect strong interest paired with discounts needed to consummate transactions. The asset sale comes after shareholders approved a plan bringing additional Seritage properties to the market amid rising interest rates and a slowdown of commercial real estate deals.
While the current environment may challenging, Margaret Caldwell told Wealth Management Magazine that she expects Sertiage's assets to garner a lot of investor interest. The majority of properties are situated in prime markets with strong population and income levels.
“There are lots of investors and developers that continue to look for opportunistic investments where they can create value,” said Caldwell. “Many of the Seritage properties provide exactly these types of opportunities—repositioning an asset, for example, through redeveloping these boxes into other uses, such as multifamily or exterior-loaded retail.”
Industrial and self-storage could also be among potential uses for those sites, according to other industry insiders.
Other topics covered include:
- Potential buyers
- Where the assets are