About the Company
The Moreno Valley Mall at Towngate is a shopping mall located on the former site of the Riverside International Raceway in Moreno Valley, California. Developed by Homart Development Company, the initial anchor stores in 1992 were Sears, J. C. Penney, May Company California, and Harris Department Stores and had 140 specialty stores. In the early years competition for tenants divided prospects between competing developers. In September 1996 the City confirmed that lower than anticipated revenues would result in a shortfall estimated to extend the payback period of the $13 million infrastructure loan to an estimated 2026 with the loan peaking at $19.5 million. Also, the mall was then valued at $66 million, far less than its original valuation of $107 million. Moreno Valley Mall directly contracts with the local Police Service as well as private security firm for security services. In 2015, Sears Holdings spun off 235 of its properties, including the Sears at Moreno Valley Mall, into Seritage Growth Properties. International Growth Properties purchased Moreno Valley Mall in November 2017 for $63 million. On November 7, 2019, it was announced that Sears would be closing this location a part of a plan to close 96 stores nationwide. The store closed on February 2, 2020.
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Latest News on Seritage Growth Properties
Seritage Growth Properties Reports Second Quarter 2025 Operating Results
Seritage Growth Properties (NYSE: SRG) (the "Company"), a national owner and developer of retail, residential and mixed-use properties today reported financial and operating results for the three ...
Bull vs. Bear: Seritage Growth Properties - The Motley Fool
Seritage Growth Properties had a lot of potential -- before the COVID-19 pandemic. However, it no longer has enough upside to justify the risk of owning it.
Berkshire Hathaway Will Loan Seritage Growth Properties $2 ... - Nasdaq
Fortunately, Seritage Growth Properties laid those funding concerns to rest once and for all on Tuesday. The REIT announced a new $2 billion term loan facility with an affiliate of Berkshire ...
Seritage Growth Properties 7% Cum. Redeem. Pfd. Series A
View the latest Seritage Growth Properties 7% Cum. Redeem. Pfd. Series A (SRG.PRA) stock price, news, historical charts, analyst ratings and financial information from WSJ.
Seritage Growth Properties: Q2 Earnings Snapshot
NEW YORK (AP) — NEW YORK (AP) — Seritage Growth Properties (SRG) on Thursday reported a loss of $28.5 million in its second quarter. The New York-based company said it had a loss of 53 cents per share ...
Seritage Growth Properties Makes Progress Despite Sears' Struggles
As a result, Seritage Growth Properties' portfolio was just 80% leased as of Dec. 31, down from being 90.2% leased just three months earlier and 99.2% leased at the end of 2016 (just before Sears ...
Long Seritage Growth Properties: Sohn Investment Idea Contest Entry
Seritage Growth Properties is a triple-net REIT that was spun off from Sears Holdings (SHLD) through a rights offering in June of 2015. We believe that this investment opportunity exists for ...
Seritage Growth Properties: Significant Monetization Activities, A Path ...
Nov. 18, 2021 12:30 PM ET Seritage Growth Properties (SRG) Stock SRG 171 Comments 20 Likes Money Investor 1.73K Follower s ...
Seritage Growth Properties Reports First Quarter 2022 Operating Results
Seritage Growth Properties (NYSE: SRG) (the “Company”), a national owner and developer of 161 retail, residential and mixed-use properties today repor ...
Seritage Growth Properties Can Thrive in a Post-Sears World
A little more than three years ago, Sears Holdings (NASDAQ: SHLD) spun off real estate investment trust Seritage Growth Properties (NYSE: SRG) and sold more than 250 real estate assets to Seritage.
With Sears on the Ropes, Seritage Growth Properties Faces Short-Term ...
In other words, Seritage Growth Properties has to endure some short-term pain to pave the way for long-term gains. Seritage has to cope with a loss of revenue while it redevelops properties.
Seritage Growth Properties Completes Executive Management Team with ...
Seritage Growth Properties is a publicly traded, self-administered, self-managed REIT primarily engaged in the real property business through its investment in its operating partnership, Seritage ...
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