The leases are on spaces ranging from 40,300 sf to 182,714 sf. "We have been advised by DJM and ChainLinks to expect a great deal of interest for both retail and non-retail uses," says Kmart's senior vice president of real estate management John Foster.
Melville, NY-based DJM Asset Management and Washington, DC-based ChainLinks Retail Advisors will assist Kmart Corp.'s staff in finding investors or retailers interested in buying the leases on the stores the Troy, MI-based retailer is closing. The bankruptcy court already has approved a list of previously identified stores for closing. That process is expected to continue for up to three months.
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