A massive former Sears property in Redmond, Washington, is now on the market as redevelopment opportunities surge for aging retail spaces. The Overlake Seritage site, once home to a 268,000-square-foot Sears store that operated from 1971 until 2018, spans 14 acres near Microsoft's headquarters and a light-rail station.

The property, owned by Seritage Growth Properties, represents one of the retail giant's last remaining assets. Seritage formed in 2015 to manage over 200 former Sears and Kmart locations nationwide after the retailers merged in 2005. The company has been systematically selling off properties as the retail landscape shifts.

Heartland LLC, a Seattle-based real estate firm, is marketing the site with significant infrastructure already in place. The property includes a development agreement through 2039, completed environmental review, and over $21 million in prior investments. With zoning allowing for mixed-use development including residential, retail, and office space, the site addresses critical housing shortages in King County while capitalizing on its transit-oriented location.