Even the well-insulated SRG's stock has plummeted lately from $52 to $38 as investors worry that Sears is falling faster than expected. How many 150,000 sq foot former department stores can markets absorb? Then add in a bunch more if JCP goes under. Many of those department stores are obsolete multi story units. Often cheaply built in the 1960s thru the 1980s.
At least where I live, dead malls are often boarded up and eventually torn down. It doesn't strike me that many former Sears stores can be reused... at the high rents some claim.
I thought about buying some SRG as a very long term investment. And passed on that.
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