Last day to to bid on Cape Girardeau Sears before final auction

Published: Apr. 11, 2018 at 3:50 PM CDT|Updated: May. 1, 2018 at 11:16 AM CDT
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CAPE GIRARDEAU, MO (KFVS) - The deadline to make a bid for the Cape Girardeau Sears store is Tuesday night, May 1.

According to an official with the auction company, Real Insight Marketplace, it's a two-step process.

Bidders make their offers by 7 p.m. and then the company gets together with Sears to talk about the bids. Sears then picks out the offers they like and those bidders are invited to a final auction.

The final auction should take place later in May.

The company won't say how many, if any, bidders there are currently.

Commercial real estate firm Cushman & Wakefield is working with online platform Real Insight Marketplace to help Sears Holdings Corps. sell 16 store locations.

You can view the Sears auction site here.

According to Real Insight's Sears portfolio site, stores at Mid Rivers Mall in St. Peters and South County Center in St. Louis County, Missouri are among those being offered, as well as stores in Springfield and in Texas, Michigan, Indiana and Ohio.

According to Sears Holding Corps. Director of Corporate Communications Howard Riefs, the store will then be leased by Sears, instead of owned. and will remain open to the public.

According to John Mehner with the Cape Girardeau Chamber of Commerce, they're just auctioning the real estate in Cape Girardeau.

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