ニューヨーク・タイムズのインスタグラム(nytimes) - 8月29日 07時12分


A few blocks from the ocean, in the heart of Santa Monica, offices designed for the local tech industry are taking shape. In Hicksville, on Long Island, a proposal for nearly 600 units would form the community’s largest apartment complex. And in Aventura, Florida, construction has started on a “luxurious” shopping center. All 3 developments are rising from the ashes of former @sears department stores. They represent a feat of financial engineering by a group of investors who bet that one of the retailer’s greatest assets was its real estate. 3 years ago, #Sears sold about 235 stores to Seritage Growth Properties, a spinoff company that was created to convert Sears and Kmart locations — which Sears also owns — into more valuable uses. The deal generated cash to pay down debt, but didn’t stabilize the retail business. And analysts worry that it could take many years for the Seritage’s redevelopment ambitions to come to fruition. @coleybrown123 photographed the vacant Sears building in Santa Monica, an Art Deco-style building right across from a train station. Renderings of the new office space show young people working on a roof deck. Visit the link in our profile to read @mcorkery5’s story.


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