Seritage Growth Properties is a publicly traded real estate investment trust (REIT) formed in 2015 as a spin-off from Sears Holdings. Headquartered in New York City, the company owns and operates a diversified portfolio of retail and mixed-use properties that were previously under the Sears and Kmart banners. Since its launch, Seritage has pursued a strategy of unlocking value through active asset management, redevelopment and strategic leasing.
The company’s core business activities include the acquisition and redevelopment of retail properties, negotiation of long-term lease agreements with national and regional tenants, and selective disposition of non-core assets. Seritage identifies properties with redevelopment potential—often located in densely populated or high-traffic areas—and partners with retailers, restaurant operators, entertainment providers and other commercial tenants to create vibrant, mixed-use destinations. This approach aims to generate recurring rental income while capturing capital appreciation over time.
Seritage’s portfolio spans key markets across the United States, with notable concentrations in metropolitan and suburban corridors where consumer demand remains strong. By repositioning sites formerly occupied by anchor department stores, the company seeks to deliver modern retail, dining, office and residential concepts that meet evolving consumer preferences. Strategic dispositions of stabilized assets also allow Seritage to recycle capital into higher-growth opportunities and maintain a disciplined approach to portfolio management.
The company is led by an experienced management team and governed by an independent board of directors with deep expertise in real estate investment, development and finance. This leadership has overseen significant leasing successes and redevelopment projects since Seritage’s formation, positioning the REIT to capitalize on long-term trends in retail real estate and mixed-use property development.
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