Sears, which was once the largest retailer in the US, has sold its 2.4M headquarters campus in the Chicago suburb of Hoffman Estates to Compass Datacenters for $194M.
Compass is planning to demolish the headquarters campus on the 197-acre site, located at 3333 Beverly Road in Hoffman Estates, and develop a data center campus for cloud computing, according to a report in CoStar.
"The redevelopment of the former Sears headquarters into a data center campus begins a new chapter for this high-profile property and continues the technology diversification of our tax base," Hoffman Estates Mayor Bill McLeod said, in a press release.
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