The retail inferno continues, this time with retail giant Sears announcing the closure of 103 stores with 14 locations in CMBS deals. CMBS Alert – Sears to Close 103 Stores – 14 Locations in CMBS, Six With Elevated Risk

The 14 locations in CMBS deals are mostly in small markets like Rapid City, South Dakota and Taft, California.

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The Rapid City closure is hardly a surprise. It was in the BACM 2006-3 deal that has sustained millions of dollars of losses.

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Not only is the Sears property in Rapid City to be closed, Sears is late on the loan. And the Fifth Third Center in Columbus, Ohio is in foreclosure.

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This just goes to show you that it is more than a retail inferno. Even office buildings are seeing foreclosures as well.

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