What does Seritage Growth Properties do?

Seritage Growth Properties is a publicly traded real estate investment trust (REIT) based in New York. Founded in 2015, the company focuses on owning, developing, redeveloping, managing, leasing, and selling a diverse portfolio of retail and mixed-use properties across the United States, including former Sears and Kmart locations. Its mission is to maximize shareholder value by transforming properties into vibrant mixed-use destinations that meet evolving consumer needs. The company specializes in retail portfolio management, emphasizing the ownership and leasing of large anchor spaces to national retailers. Seritage engages in redevelopment and retenanting to create mixed-use developments that integrate shopping, dining, entertainment, and residential units. With a portfolio that includes a significant number of properties and land holdings, Seritage collaborates with national retailers and local partners to enhance property values and generate long-term income.