REAL ESTATE

Sears selling 16 stores online

BY CSA Staff

Embattled Sears Holdings Corp. is putting 16 of its namesake stores on the online auction block.

Cushman & Wakefield is teaming up with online bidding site Real Insight Marketplace to sell the assets, which are primarily attached to malls in suburban locations, CNBC reported. The story was first reported by The Wall Street Journal, which said the stores are being marketed as sale and lease-back deals.

Some 200 investor groups have expressed interest in bidding on the properties, according CNBC, with bids due by May 1.

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