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Seritage Says 70% of Signed Lease Income Coming from Non-Sears Tenants

Seritage Growth Properties President and CEO Benjamin Schall says 70 percent of the REIT's third-quarter income came from non-Sears tenants.

Benjamin Schall, president and CEO of Seritage Growth Properties (NYSE: SRG), participated in a video interview at Nareit’s REITworld: 2018 Annual Conference in San Francisco.

Seritage was spun off from Sears Holding Corp. in 2015.

Schall noted that the REIT ended the third quarter with 70 percent of its income on a signed lease basis coming from non-Sears tenants. “That income is now with new, growing retailers who are attracted to the quality of our sites and the first-class environments that we’re developing,” he said.

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TAGS: Retail
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