The old Sears store at Cortana Mall is on the market, joining three other former anchor tenants of the shopping center as being up for sale.
The Shopping Center Group, an Atlanta-based firm, said it will accept the “best offer” for the 240,000-square-foot store. The deal also includes the 18 acres of land around the old Sears store.
Sears closed its Cortana store earlier this year.
Two weeks ago, the interior stores in Cortana and the former Mervyn’s location went on the market for $4 million. Moonbeam Leasing & Management of Las Vegas bought the mall and Mervyn’s in 2013 for a combined total of $6.15 million. According to the listing, the mall is nearly 357,000 square feet, while Mervyn’s is 80,000 square feet.
J.C. Penney, which has been vacant since the spring, is up for sale for $2.4 million. That store is just under 200,000 square feet.
Cortana has been open since August 1976 and was the place to shop in Baton Rouge until the Mall of Louisiana, which opened in 1997, eventually wrested away the title.
The former Macy's space is under contract to an investor, who plans to re-purpose the 243,000-square-foot property. The anchor store has been vacant since spring 2016.
Ryan Pecot, an agent with Stirling Properties in Lafayette, who is brokering a deal for the Macy's space, said the buyer is still working through its financial evaluation.
Local real estate experts have said the best use for the shopping center at Florida Boulevard and Airline Highway is to redevelop it for non-retail use, such as turning it into a distribution center, office space, call center, church, health care facility or school.