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Sears Canada to sell stake in eight properties
New York -- Sears Canada announced that it has reached a definitive agreement to sell its 50% joint venture interest in eight properties it owns to Montez Income Properties Corp. for approximately $300 million (C$315 million). Sears’ joint venture partner in the properties is The Westcliff Group of Companies.
The company said it will sell its interests in four regional shopping centers, two strip centers and two open-air retail centers.
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Crossroads at Terrell to break ground late next year
Dallas — The Retail Connection and Oakridge Investments have announced a partnership to build the Crossroads at Terrell, a regional power center at the intersection of I-20 and U.S. Highway 80 in Terrell, Texas. The 225,000-sq.-ft. Phase I of the development will break ground late next year.