With sales continuing to sag, struggling retailer Sears is trying to bring in extra cash by leasing out large chunks of its stores to other retailers, such as Austin-based Whole Foods Market.
In Austin, Sears is currently offering up half the space at two of its stores – if the price is right – through Seritage Growth Properties, an affiliated real estate investment trust.
In total, Seritage is overseeing 266 properties accounting for about 42 million square feet of space across the country.
At the Sears store at Barton Creek Square Mall, 2901 S. Capital of Texas Highway (Loop 360), Seritage is marketing 82,280 square feet of retail space for lease, as well as the 20,800-square-foot auto service center.
The 165,765-square-foot store, which was built in 1980, according to the Travis Central Appraisal District, is valued at $12.2 million this year.
The Barton Creek Square space is being listed as part of a partnership with Indianapolis, Ind.-based Simon Property Group, the mall’s owner.
Simon declined to comment; Seritage didn’t respond to a message from the American-Statesman seeking additional details.
In North Austin, 83,630 square feet of retail space plus the 10,320-square-foot auto center are…