Kmart operates more than 2,000 stores nationwide and employs more than 255,000 people. Kmart employs 8,800 people at two distribution centers and 70 stores in the state, including 39 stores in metro Atlanta. Industry analysts expect Kmart to close between 200 and 300 stores to cut costs.
Atlanta-based IRT Property Co. has eight stores leased to Kmart, according to the company. All of the stores are open and operating as BigK. Kmart is current on all rental payments.
Locally-based JDN Realty Corp. has five locations leased to Kmart, including a joint venture in which it owns a 49% interest.
The five leases represent 2.9% of its annualized base rent and 4.4% of its owned gross leasable area. All of the Kmart locations within JDN's portfolio are currently operating and are current on rental payments, according to the company.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
