Sears Outlet Store has signed a 10-year lease to occupy existing space in Fairview Heights.
Fairview Heights Economic Development Director Mike Malloy said the store will move into 55 Ludwig Drive within the next 90 days. The 30,700-square-foot space initially was built for Circuit City, which closed in 2009.
"It's a tough space to fill, to say the least," Malloy said. "Congrats go to out to the Realtor at Sansone, Mike Pettit, the broker, who has done a great job for our shopping center."
Pettit, executive director of retail services for the Sansone Group in St. Louis, declined to comment Wednesday about the deal.
Malloy said the new tenant will sell merchandise that has been replaced with a newer model or line of goods no longer offered at Sears stores, and are discounted at 20 percent to 60 percent.
The new store would be the first Sears Outlet in the metro-east. There are two others across the river at the St. Louis Outlet Center in Hazelwood, Mo., and Fenton, Mo. The store is expected to generate between $4.5 million and $5 million in sales per year.
Malloy said there is no word on how many employees the new store will hire. The store in Hazelwood employs between 16 to 22 during the year.
Contact reporter Will Buss at email@example.com or 618-239-2526.