Sears stores all across Canada officially closed their doors for good on Sunday, including Peterborough’s very own at Lansdowne Place. The store opened before the mall was built in 1954.
Sears owns the current space at the mall including the parking lot. No one from the company would comment on the potential sale of the property, however a local real estate agent says it is a prime piece of land and will likely not stay vacant for very long.
“The possibilities of redevelopment in that area for either a number of stores or chains or franchises I think would be incredible. Although it is sad to think that there are a number of local people that are out of jobs, we would hope and I would think, we would all feel collectively on this matter that a new development would bring in a rash of new jobs,” said Adam Simmonds, sales representative at Flatrate Realty.
READ MORE: Sears in Peterborough closes for good on Jan. 14
We spoke with a city councillor who says Peterborough needs more jobs and this vacancy could allow for many opportunities.