A Texas real estate investment firm has purchased the former Sears store building at Southridge Mall in Greendale, and an out-lot property that includes a vacant former Sears Auto Center, for $12.3 million, according to state records. The transaction took place on Feb. 1, according to records, with Fidelis Realty Partners of suburban Houston, buying
A Texas real estate investment firm has purchased the former Sears store building at Southridge Mall in Greendale, and an out-lot property that includes a vacant former Sears Auto Center, for $12.3 million, according to state records.
The transaction took place on Feb. 1, according to records, with Fidelis Realty Partners of suburban Houston, buying the property from New York City-based Seritage Growth Properties.
Comprised of two parcels, the properties encompass 21.5 acres of land on the north end of the Southridge Mall site at 5300 S. 76th St. in Greendale.
The two-story Sears store, which closed in 2017, has since been redeveloped as the Shoppes at Southridge and includes 133,835 square-feet of space. Most of that space is occupied by retailers, including T.J. Maxx, Dick’s Sporting Goods, Golf Galaxy, and Round 1, a bowling and amusement center that takes up more than 45,000 square feet on the second floor, according to a marketing brochure.
The second half of the second floor space, totalling 40,178 square feet, is vacant. There is also a 6,978-square foot space available on the first floor of the building. The 20,000-square-foot, former auto center is vacant.
[caption id="attachment_564446" align="aligncenter" width="1023"] A site plan in a Mid-America marketing brochure shows the layout of the redeveloped Sears store and the vacant Sears auto center. (Mid-America)[/caption]
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