OAKLAND (KCBS)— Oakland may be a step closer to biding farewell to its last remaining major downtown retailer. However, a deal to redevelop the old four-story Sears building in Uptown into housing, a hotel and various retail outlets has fallen through.
The store at 1955 Broadway and 20th street is mostly vacant, covered in graffiti and has suffered several broken windows from numerous protests. Those windows have been replaced, although a few headless mannequins linger.READ MORE: Santa Rosa Neighbors Blame City After Creek Overflows, Flooding Homes, Forcing Evacuations
Soloman Ets-Hokin, a retail expert just blocks away at Collier’s— a commercial real estate broker, said the larger question is what the future holds for the half-square block building.
It’s been reported that another unidentified buyer is lining up to make the purchase.READ MORE: Los Gatos Mayor Issues Warning To Residents To Stop Harassment At Council Meetings
“You have a real burgeoning arts and entertainment and dining scene in Uptown Oakland and the Sears building is an opportunity to really build on that,” he said.