Value in new Sears JV with Simon is redevelopment of mall space

April 13, 2015 6:34 PM

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NEW YORK, April 13 (Reuters) - With Sears Holdings Corp 's second joint venture announcement this month on Monday, one question left to be answered is how much of the struggling mall anchor's property will be devoted to new, and potentially lucrative, retail space.

Sears and Simon Property Group Inc said they would form a 50-50 joint venture to boost the value of 10 Sears properties at Simon-managed malls, similar to its April 1 announcement with mall operator General Growth Properties .

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