by Michael Clancy – Apr. 1, 2010 02:31 PM
The Arizona Republic
Unable to find a buyer or tenant for its property at Cactus Road and the Piestewa Freeway, Sears has decided to take over the former Kmart property for itself.
The company plans to open a 50,000-square-foot Sears Outlet at the site, taking up less than half the 119,455-square-foot building, occupied until early 2009 by a
Super Kmart.
Sears is the parent company of Kmart.
The outlet, featuring discounted appliances and clothing, will have a soft opening April 22 and a grand opening May 22. Appliances will be available early, but clothing buyers will have to wait until closer to the grand opening, company spokeswoman Kim Freeley said.
The store carries overstocked items,scratched and dented appliances and returns. Many of the items are discounted
steeply.
It will be the third Sears Outlet in the Valley. The company also operates stores at Arizona Mills in Tempe, and at Val Vista Drive and Guadalupe Road in Gilbert.
Mike Polachek of SRS Real Estate Partners,
which is marketing the property, said Sears
will occupy the western end of the building,
closest to 32nd Street.
He said he had “no real hot prospects” for the remainder of the space.