There's about 26 million square feet of space in the buildings themselves. They also own a great deal of land. When you think of the Sears, there aren't real Sears anymore in most places. But if you think about a Sears that was attached to your local mall, it probably had a giant parking lot in auto center, a huge plot of land, Seritage owns those as well.
I want to share my screen for just one second, I promise I'll keep this brief. But this is a property in Alexandria, Virginia, close to where Anand is sitting right now. Anand, do you know where the Landmark mall is? Frankel: This is owned by two stocks that I own. If you see that red outline there, that Sears building itself is about , square feet. Just to give you an idea of the scale here, look at all of that land that they own, that they could redevelop.
They're going to redevelop this property along with Howard Hughes into a 4 million square foot multi-billion-dollar project with a hospital campus, a couple thousand residential units, a lot of retail and restaurant, and entertainment space. One high-quality mall can be worth that much. I mentioned this is going to be a multi-billion-dollar project. The idea is they're taking these old dilapidated buildings and just add value to them over time.
There are some big backers here, Warren Buffett himself, not Berkshire , Warren Buffett himself is the company's biggest investor. Berkshire Hathaway is their sole creditor. They're really relying on selling non-core assets to fund their redevelopment activities right now, where they don't want to have happen is having to start selling their premier assets to start funding development, which is the biggest risk right now.
If they can get things together and get their financing questions answered, there's a ton of value-creating potential here, and I'll stop with that. Replay Video. Skip Ad. Load Error.
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I'm already a fan, don't show this again. Send MSN Feedback. Responsibilities: As Vice President of Boyle, Thompson is currently responsible for acquiring, planning, developing, selling and managing Boyle's residential properties.
These properties include joint ventures with landowners as well as those owned by Boyle Investment Company. Thompson previously served as director of planning for Boyle for more than seven years. In this capacity, he was responsible for the oversight and coordination of all planning activities, including the approval processes required by local and state jurisdictions. Twin Lakes of Piperton. The Pinnacle of Germantown. Washington Gates. Twinings of Collier. Neighborhood at Schilling Farms. Spring Creek Ranch- The Village.
Spring Creek Ranch- The Manor. Millington Property. Green Shadows. Gardens of Southwind. Dogwood Gardens. Buckingham Farms Parcel E. Braystone Park. Bedford Plantation. Spring Creek Ranch — Grand Manor. Spring Creek Ranch. Twin Lakes of Piperton is an upscale, walkable, rural porch community just minutes from Main Street Collierville. With more than 40 acres of common open space and a wooded park area along the Wolf River, Twin Lakes offers abundant outdoor amenities, including two lakes for fishing and canoeing, nearly a half-mile of trails linking lakes to the Wolf River, and low Piperton and Fayette County taxes.
This award-winning, naturally preserved gated community in the heart of Old Germantown features 16 home sites positioned around approximately four acres of manicured park-like open spaces.
Natural streams flowing under stone bridges and two ponds with fountains create spectacular natural views. In the shade of old-growth canopy, fifty exquisitely crafted homes will line winding, gated and self-contained streets. While the setting may feel rustic, owners in Allelon are only minutes from upscale shopping, numerous corporate headquarters, healthcare and schools.
Country living at its best in a natural wooded community with ponds, streams, and meadows in the heart of the high-value area of Raleigh-LaGrange. Enter this private, gated community through a custom masonry entrance surrounded by an attractive rail fence. Only minutes from the new campuses of St. All of the lots are sold in Washington Gates, but please click on the Price List link on the left to pull up builder contact information. When was the last time a five minute walk offered so much, so close, so complete?
Washington Gates — a 16 LOT private cottage neighborhood with the small town feel of yesterday. Imagine just 16 building lots each nestled in mature trees so when the homes are complete they will appear years old.
Boyle is in the early stages of planning for a traditional style community within the Collierville Historic District adjacent to the Old Town Square. This traditional neighborhood development will offer homes inspired by the architectural style prevalent in Collierville during the mid-to-late s.
Offering stunning vistas and unique home sites, Spring Creek Ranch reflects the excellence of the course. Within Spring Creek Ranch are three state-of-the-art residential communities, each offering low county taxes in the Collierville reserve area. The new Phase 10 Manor lots are now available! The Manor provides captivating views of rolling terrain and mature trees.
Developed in , this East Memphis neighborhood consists of 29 high-end estate lots with mature hardwoods and specimen dogwoods on a private road system with paved cobblestone walkways. Special care was taken during construction to protect and preserve some of the largest dogwood trees in Shelby County. The Gardens of Southwind is one of the most desirable sections of Southwind, a master-planned architecturally controlled, golf course-oriented community of acres.
With 24 hour controlled access to residential areas, Golfwalk is only 10 miles east of the airport and just minutes from , shopping, entertainment and excellent schools. Developed in , this neighborhood consists of 88 lots. Dogwood Gardens is an upscale community for family-oriented home buyers, and has a beautifully landscaped entrance and street scape.
The community is surrounded by established upscale Germantown neighborhoods and large country estates and served by excellent Shelby County schools. It offers close proximity to excellent schools in the Southwind area, as well as easy access to This upscale community in Collierville offers approximately 14 acres of private neighborhood parks and natural areas. Developed in , this community in Germantown offers large, wooded lots which back back up to the Ridgeway golf course.
The community is also surrounded by established upscale neighborhoods and served by excellent schools and retail. The private and gated Grand Manor provides residents with a prime view of the new Lake at Glen Birnham.
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