Sears Canada tweaks real estate portfolio

TORONTO ― Sears Canada has reaffirmed the previously announced sale of a distribution centre for $18.13 million and the sale and leaseback of a non-mall property for $10 million, which will continue to be operated. In addition, Sears Canada has formalized an agreement with Concord Pacific Real Estate Developments Ltd. to develop some other properties. The retailer will also sell one distribution centre for $8.5 million and sell and lease back its DC in Vaughan, Ont., for $100 million.