Connect News Commercial Real Estate news for every market and every facet, every day.
Connect CRE Events Live and virtual events bringing together the best of information and networking.
CRE Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Classroom Offering CRE focused continuing education courses on demand.
ApartmentBuildings.com Is a dynamic platform to search for, list and promote multifamily listings nationwide.
Connect Awards View the A-list of commercial real estate & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
Loantuitive Find the right lender for your loan.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for daily news covering CRE transactions and trends. Stay informed on national, regional and property sector news that matters to your business.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course
High-rise commercial buildings

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Property Sectors

Topics

Seattle & Northwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
Seattle & Northwest  + Portland  + Retail  |  March 26, 2024
Jasmine Kilman
By: Jasmine Kilman

Former Sears at Lloyd Center for Sale After Bankruptcy Filing

A vacant former Sears at Portland’s Lloyd Center mall is up for sale following a bankruptcy filing.

An affiliate of Cypress Equities, the Texas company that owned the mall until late 2021 and still owns the Sears store, hired Hilco Real Estate to sell the 142,996-square-foot property. The affiliate filed for Chapter 11 bankruptcy protection in December with more than $10 million in liabilities. Lloyd Center Mall is currently slated for a major redevelopment, which will take place over the next ten years.

The plans, unveiled by KKR and Seattle-based developer Urban Renaissance Group, call for over $1 billion to be invested to transform the existing center into a mixed-use neighborhood with housing, retail, workspace, restaurants, entertainment venues and large open community spaces. The use agreement for the former Sears property provides its ownership with certain rights as to how the larger Lloyd Center parcel is ultimately redeveloped.

Connect

Inside The Story

Hilco Real Estate

About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
Order Reprints
New call-to-action
New call-to-action
New call-to-action