When Sears made its retail exit from the Puget Sound region with its last store in the area closing last year, at least one property was envisioned as a new development not far from the Microsoft campus, with shops, apartments and restaurants.

Now that property is among the last in its owner’s portfolio.

Seritage Growth Properties, a real estate investment trust spinoff from Sears Holdings, lists just a few properties remaining in its portfolio nationwide. Among those sites is its Overlake Plaza property in Redmond, formerly home to a Sears store, which closed in 2018. Demolition took place in 2022.

The Redmond site’s redevelopment proposal from Seritage included a 210-room hotel, 500 apartments, more than 2,200 stalls of underground parking, restaurants, offices, and retail and park sp

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