I wasn't saying Sears locations are all subpar. Far from it. But Fairview is not "great" in the sense I was using it. Yorkdale, Toronto Eaton Centre, Rideau Centre, Chinook Centre, Pacific Centre, etc. - these are top 10 malls, AAA+ as you say, where Sears once had cheap leases for a lot of GFA (my understanding is that Sears does not have the same favourable/flexible lease terms at Fairview - but I don't know that for sure). Fairview is right up there, some years in the top 20 of most productive malls in the country, but not quite in that same tier (sales per square foot are substantially less than Yorkdale or TEC). Limeridge, etc. are a tier or two below that. Sears has already sold an option on STC, unless that has expired. You're correct that Fairview is a very strong mall. But Sears no longer has the stellar locations it once had, and Fairview alone is not going to attract any stellar retailers to Canada in any kind of joint venture with Sears. The fact that Sears Canada has not made deals the same way as Sears Holdings has in the U.S. with Primark, Dick's, etc. suggests to me that people are not lining up to take Sears' remaining space (for reasons some of which have nothing to do with Sears or its locations). I don't doubt that Sears will still do one-off deals for floors here and there, and may even unload whole stores (most likely back to the landlords, but who knows). Supermarkets are a great option for Sears.
