Sears Sells Downtown Oakland Location

End of Sears coming at the end of summer.

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    NEWSLETTERS

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    Sears is getting gentrified -- right on out of downtown Oakland.

    The retailer has parted ways with its six-story building on Broadway, selling it to a developer for $25 million, according to the Oakland Tribune.

    The sale means the store will close by the end of summer, with the new tenants to be "technology firms," the newspaper reported.

    Lane Partners, a Menlo Park-based company, made the sale.

    Most of the Sears building's 400,000 square feet is empty, the newspaper reported, with city leaders eager to activate the space with some other function.

    Sears was "the last of the large department stores" to do business in downtown Oakland, the Tribune noted.