Those old mall and department store locations have a rare quality with enduring value... great access to key roads and highways. That was gold years ago for store locations. Going forward I'd think such locations will still be the most desirable ones for many other purposes, such as office buildings or Amazon-type fulfillment centers.
"who would want the real estate SRG holds if SHLD goes belly up"
That would be my first question too, but Sears is probably paying peanuts in rent. MOST of those locations will probably turn out just fine for someone with staying power... like Buffett or his kids.
OTOH, I bet Warren never thought retailing would go to hell as fast as it has. No one foresaw this bottomless decline. Buffett's generally an optimist which is not a beneficial quality when it comes to retailing lately.
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Because the Good Life is Just a Pump or Two Away
