Sears has sold its last appliance at the Boise Towne Square, leaving a large empty space at the mall.
But it will remain empty for now, as the complicated process to hash out the fading retailer’s fate rolls along.
The store itself is owned separately from the rest of the mall building and property, with control in the hands of Sears Roebuck & Co.
Darren Howard, Boise Towne Square’s General Manager says that means any solid plan for the Sears store will have to wait for now.
The Boise property remains a Sears asset, which ties it up in the complicated wrangling over the future of the bankrupt retailer. ESL Investments, a hedge fund controlled by former Sears chairman submitted a bid to keep the retailer alive. A hearing to approve the sale is set for next week.
The majority of the rest of the mall and surrounding property is owned by Brookfield Properties, which acquired former mall owner GGP, Inc. last year. Like Sears, JC Penney owns its store building and parking lot area.
The last major anchor vacancy at Boise Towne Square lasted more than three years during the Great Recession, from the time Mervyn’s closed in 2008 until general goods retailer Kohl’s opened in its place in 2011.