"Three of the four properties also have inline stores that may be adversely affected by the decisions," he says.
The four Malan-owned Kmart stores, totaling 346,430 sf of gross leasable area, are located in Topeka, KS; Forestville, MD; and Madison, WI and Marshfield, WI. Base rent for those stores is approximately $1 million annually, which totals about 4% of Malan's total annualized base rents, company say.
The real estate investment trust owns, acquires, redevelops and manages properties that are leased primarily to national and regional retail companies. The company owns a portfolio of 58 properties located in nine states that contains an aggregate of approximately 5.4 million sf of gross leasable area.
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