What does Sears bankruptcy mean for Springfield’s Eastfield Mall?
The expected bankruptcy of Sears Holdings Corp. may force the ailing retailer to sell its former store in Springfield as part of a nationwide real estate selloff, further clearing the way for redevelopment at the Eastfield Mall. It all depends on what Sears and its lenders want to do, said Chuck Breidenbach, managing director for MDC Retail Properties Group, in an email Wednesday. MDC is a unit of Mountain Development Corp., which owns the rest of the Eastfield Mall property, a total of 68 acres. Breidenbach is the executive in charge of Mountain Development’s plans to turn Eastfield Mall into Eastfield Commons.