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March 1, 2019 Deal Watch Today

Sears Manchester Buckland mall building sold for $10.4M

Photo | Flickr via JJBERS Sears at Buckland Hills mall in Manchester.

The sprawling Sears building at Manchester's Buckland Hills mall has been sold for $10.4 million, according to town records.

An entity known as TF Manchester CT LLC recently completed purchase of the 145,880-square-foot building, which is considered a separate facility from the mall, officials said.

The Sears building is appraised at approximately $8.8 million, town records show.

It is not yet clear what the acquisition means for the Sears operation in Manchester. The buyer and Sears could not be immediately reached for comment on Friday.

Sears, a 133-year-old retailer that also operates Kmart stores, spent the last few months navigating bankruptcy proceedings, and recently survived after a judge approved the $5.2 billion sale of most of its assets to a hedge fund controlled by the company’s chairman.

That will save 425 stores and 45,000 jobs.

In Connecticut, Sears in November announced the pending closure of its Meriden location and 38 others as it looked to move through bankruptcy proceedings.

The retail giant has closed hundreds of Sears and Kmart stores nationwide in recent years, including sites in Waterbury, Milford and Waterford.

Sears is currently operating stores and auto centers in Manchester and Danbury, according to its website. The retailer also still has auto centers in Newington, Enfield and West Haven. In October, the Sears Outlet store in Newington sold to a New York investor for $3.2 million.

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