Sears Completes Sale of 11 Stores to General Growth Properties

HOFFMAN ESTATES, Ill.-Sears Holdings has closed the $270 million sale of 11 stores to General Growth Properties.

As announced in late February, the stores are located in Florida, Hawaii, Illinois, Iowa, Minnesota, Texas, Utah and Washington State. Each of the stores is part of an existing General Growth property. In a company statement, Sears Holdings said it has already received the proceeds, and that the stores will continue to operate as Sears locations into 2013 or 2014.

The final closing dates for the stores will be determined or announced later this year.

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