Quote:
Originally Posted by cllew
Not sure why Sears owning the stores would be a problem?
If they wanted out of Polo Park and maybe Kildonan Place I am sure the mall owners would buy the store and have an easy time finding a tenant.
Not sure if Garden City would be an easy location to sell and re-rent unless the mall owner could get Target to take a look at that side of the city.
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Sears owning their stores could be an issue if a new anchor is interested in leasing rather than owning. Their might also be lots of terms on how Sears can exit operations in the mall, such as "going dark", which would need to be negotiated. Further, it is confirmed that Sears owns stakes in at least 13 malls, Kildonan Place being the only Winnipeg one, so they would not only need to arrange the conditions for the closing of their store but also likely the sale of their interest in the mall itself.
As for Garden City, you would be fooling yourself to think Target is not actively looking. The issue there though as the Garden City Sears space seems too small for a Target. Would the property owner be willing to demolish some of the existing structure to land Target? Hard to say but that was the deal that happening to land Canadian Tire.