Sears closing offers anchor opportunity in Lake Success

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The closing of the Sears store in Lake Success Shopping Center has attracted the attention of potential tenants, a real estate executive said.

Kenneth Schuckman, president of Schuckman Realty, represents the private family partnership that owns the Lake Success property.

“We’ve had multiple suitors approach us about filling the location,” Schuckman said. “And a lot of interest from national brand tenants.”

The Sears store is one of 33 nationwide closing this fall, in addition to 13 Kmart locations, as a result of continued losses at Sears Holding Corp. Liquidation sales have already begun. Sears reported a $508 million net loss in the second quarter this year.

Schuckman Realty is marketing the three-floor, 118,000-square-foot space as an anchor location at the center, featuring 684,000 residents within a five-mile radius and strong co-tenancy with the other retailers.

The space is advertised as both a single tenant space or open to divisional renting, with three spaces each ranging from 30,000 to 41,000 square feet.

“A decision is going to be made that the owners think will be best for the future of other businesses and the community,” Schuckman said.

Although Schuckman did not reveal who was in talksĀ  to occupy the location, he said that he is confident a new tenant will be chosen soon.

Efforts to contact Town of North Hempstead Councilwoman Lee Seeman, who represents the 5th District where the Lake Success Shopping Center is located, about the store closing and prospect of new tenants were unavailing.

 

 

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