HOFFMAN ESTATES, Ill. (Jan. 15, 2021) – Transformco Properties has completed the sale/assignment of five Kmart store leases to Target Corporation. The proceeds from these sales will enable Transformco to invest in its go-forward businesses. Terms of the deal were not disclosed.
“Transformco continues to pursue opportunities to create value from its real estate portfolio and to partner with retailers, property owners and communities as part of the ongoing reinvention of retail real estate,” said Scott Carr, president of Transformco Properties.
The leases are for the following Kmart store locations:
Transformco is a privately held company with five core businesses: A real estate portfolio of 59.8 million square feet; Sears Home Services, the nation’s largest product repair provider; the Shop Your Way® loyalty and credit program; Transform Brands, home of Kenmore and DieHard; and Sears and Kmart full-line stores, specialty stores and online operations.