In a sales leaseback deal, Sears Holdings Corp. has sold Arrowhead Towne Center and Chandler Fashion Center to the joint venture MS Portfolio for $26.9 million and the Arrowhead store to the same group for $23 million.
Sears will continue to operate the stores leasing backing the space from MS Portfolio.
The moves aim to monetize some of Sears’ large U.S. real estate portfolio.
Information from Phoenix Business Journal
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