Sears selling stake at mall

Sears Canada is selling its 40 per cent interest in the Medicine Hat Mall, but that won’t affect its store operations or bring a new owner into the shopping centre, according to the company.

Sears says that it has agreed to sell for $43 million the leasehold stake in the facility to Sleeping Bay Building Corp. – the current majority owner, and believed to be the parent company of mall operator T&T properties.

The announcement was made early Wednesday morning from Sears’ Toronto offices.

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