Castleton Sears store among 16 headed for auction block

The Sears store at Castleton Square Mall goes up for auction in May. (Photo: Google Street View)

INDIANAPOLIS (WTHR) — An anchor store at Castleton Square Mall will hit the auction block next month.

The Sears store is one of 16 across the nation that are being auctioned online by commercial real estate services firm Cushman & Wakefield, CNBC reported Wednesday. The firm said about 200 investor groups have shown interest in the properties, which also includes Sears stores in Merrillville and Mishawaka.

Indicative bids for the properties, which are used to determine serious potential buyers, are due May 1. The auction will be held May 22.

Meanwhile, Indianapolis-based Simon announced plans to redevelop five former Sears stores into retail, dining and entertainment centers. None of the locations chosen for redevelopment are in Indiana.

The Simon Property Group owns Castleton Square Mall.