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Strategy Sears is selling these 16 stores in an online auction

The stores were not included in two previously announced rounds of mass closures to be carried out this year, which affected a total of 166 stores.

  • Published:
Sears is closing and selling stores. play

Sears is closing and selling stores.

(Getty/Scott Olson)

  • Sears is closing more stores and auctioning off 16 others in an online auction.
  • The properties for sale are advertised as sale and lease-back deals, meaning Sears would make rent payments to the widding bidders to remain in the space.
  • These newly announced store closings were not included in the two previously announced rounds of mass closures to be carried out this year, which affected a total of 166 stores.

Sears is closing more stores and auctioning off 16 others in an online auction.

The closing stores include Sears locations in Wilmington, North Carolina, and Youngstown, Ohio, as well as Kmart stores in Brandon, Florida, and Saugus, Massachusetts. Sears will also likely close its store in Tacoma Park Mall in Tacoma, Washington. The owner of the mall, Simon Property Group, recently revealed plans to demolish the Sears store and replace it with several buildings including a movie theater.

Most of the stores will close between May and July, according to layoff notices filed by Sears. The stores were not included in two previously announced rounds of mass closures to be carried out this year, which affected a total of 166 stores.

Meanwhile, the company is selling a handful of other stores online through a partnership with Cushman & Wakefield, a real-estate-services company, The Wall Street Journal reports.

The properties are advertised as sale and lease-back deals, meaning Sears would make rent payments to the winning bidders to remain in the space.

Some properties with flexible lease agreements would allow for the store space to be redeveloped into self-storage, hotel, or residential units, according to The Journal. Depending on the terms of the lease, it's possible that the Sears stores could shut down entirely or shrink to take up less space on the property, as the company has done in a number of other locations.

Sears declined to comment on the store closures and auctions.

Buyers have until May 1 to signal interest in the properties for sale. In late May, an online auction will be held where interested buyers can bid on the properties in real time, according to Real Insight Marketplace.

The following Sears stores are for sale:

Castleton Square Mall, Indianapolis, Indiana

Castleton Square Mall, Indianapolis, Indiana play

Castleton Square Mall, Indianapolis, Indiana

(Business Insider/Hayley Peterson)



Southlake Mall, Merrillville, Indiana

Southlake Mall, Merrillville, Indiana play

Southlake Mall, Merrillville, Indiana

(Business Insider/Hayley Peterson)



University Park Mall, Mishawaka, Indiana

University Park Mall, Mishawaka, Indiana play

University Park Mall, Mishawaka, Indiana

(Business Insider/Hayley Peterson)



Twelve Oaks Mall, Novi, Michigan

Twelve Oaks Mall, Novi, Michigan play

Twelve Oaks Mall, Novi, Michigan

(Business Insider/Hayley Peterson)



330 Siemers Dr., Cape Girardeau, Missouri

330 Siemers Dr., Cape Girardeau, Missouri play

330 Siemers Dr., Cape Girardeau, Missouri

(Business Insider/Hayley Peterson)



South County Center Mall, Mehlville, Missouri

South County Center Mall, Mehlville, Missouri play

South County Center Mall, Mehlville, Missouri

(Business Insider/Hayley Peterson)



Mid Rivers Mall, Cottleville, Missouri

Mid Rivers Mall, Cottleville, Missouri play

Mid Rivers Mall, Cottleville, Missouri

(Business Insider/Hayley Peterson)



Battlefield Mall, Springfield, Missouri

Battlefield Mall, Springfield, Missouri play

Battlefield Mall, Springfield, Missouri

(Business Insider/Hayley Peterson)



Great Northern Mall, North Olmsted, Ohio

Great Northern Mall, North Olmsted, Ohio play

Great Northern Mall, North Olmsted, Ohio

(Business Insider/Hayley Peterson)



Richland Mall, Mansfield, Ohio

Richland Mall, Mansfield, Ohio play

Richland Mall, Mansfield, Ohio

(Business Insider/Hayley Peterson)



Southpark Center, Strongsville, Ohio

Southpark Center, Strongsville, Ohio play

Southpark Center, Strongsville, Ohio

(Business Insider/Hayley Peterson)



Parkdale Mall, Beaumont, Texas

Parkdale Mall, Beaumont, Texas play

Parkdale Mall, Beaumont, Texas

(Thomson Reuters)



Deerbrook Mall, Humble, Texas

Deerbrook Mall, Humble, Texas play

Deerbrook Mall, Humble, Texas

(Business Insider/Hayley Peterson)



San Jacinto Mall, Baytown, Texas

San Jacinto Mall, Baytown, Texas play

San Jacinto Mall, Baytown, Texas

(Business Insider/Hayley Peterson)



Rolling Oaks Mall, San Antonio, Texas

Rolling Oaks Mall, San Antonio, Texas play

Rolling Oaks Mall, San Antonio, Texas

(Business Insider/Hayley Peterson)



Plaza Paseo Mall, Pasadena, Texas

Plaza Paseo Mall, Pasadena, Texas play

Plaza Paseo Mall, Pasadena, Texas

(Business Insider/Hayley Peterson)