Business

Lindale Mall Sears, last in Corridor, to close

Closure will mean another vacant big-box store in the area

Sears at Lindale Mall in Cedar Rapids on Tuesday, May 9, 2017. (Liz Martin/The Gazette)
Sears at Lindale Mall in Cedar Rapids on Tuesday, May 9, 2017. (Liz Martin/The Gazette)
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The last Sears store in Cedar Rapids and the Corridor will close later this year.

Sears Holdings plans to close the Lindale Mall Sears, 4600 First Ave. NE, in July, a spokesman for the company confirmed Thursday. The Lindale store is owned by Seritage Growth Properties, a real estate investment trust company.

“Seritage Growth Properties is recapturing this Sears store as part of an agreement reached in 2015 between Seritage and Sears Holdings. As a result, the store will close in mid-July 2018,” Sears Holdings spokesman Howard Riefs said in an email.

Liquidation sales will begin by April 27, Riefs said.

The closure will mean the company no longer will have any Sears or Kmart stores in the Cedar Rapids or Iowa City areas. It closed its final Corridor-area Kmart last year, but that property is on track to be sold and made ready for new tenants.

The Sears at Lindale was built in 1960 and spans about 129,000 square feet. The store’s closure will add to the number of large, big-box stores that are vacant in the area as major retailers, such as Younkers and Toys “R” Us, shutter stores or declare bankruptcy.

Sears also operates stores in Marshalltown, Davenport, Clinton, Dubuque and other Iowa locations.

Sears Holdings announced it will close its Chicago location, the last one in that city and where the company had been based for more than a century, the Chicago Tribune and CNBC reported.

l Comments: (319) 398-8366; matthew.patane@thegazette.com

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