Eddie Bauer Real Estate Sale OK'd

Share this article:
Spiegel Inc., Downers Grove, IL, received approval from a bankruptcy court judge this week to sell its Eddie Bauer campus in Redmond, WA, to Microsoft Corp. for $38 million.


Unloading the 20-acre site, which includes three buildings, seemed like the best method to generate cash for creditors, said Jim Brewster, senior vice president and chief financial officer for Spiegel.


Eddie Bauer will rent the space from Microsoft for three years while it looks for smaller office space. The lease calls for a minimum occupancy of two years.


Spiegel is in the final stages of due diligence regarding the sale of the Eddie Bauer division and expects to start receiving bids soon, he added.


Share this article:
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Multichannel Marketing

Generating Loyalty for Brands and Retailers in an Omnichannel World

Generating Loyalty for Brands and Retailers in an ...

Harnessing personas, loyalty programs, and new technologies can help marketers better connect with customers.

News Byte: Salesforce Forms Unit to Focus on Verticals

News Byte: Salesforce Forms Unit to Focus on ...

The industries business unit, led by ex-White House CIO Vivek Kundra, will serve six industry groupings.

Columbia U. Puts the "Do" in "Donation"

Columbia U. Puts the "Do" in "Donation"

Columbia University raises nearly $7 million in donations in just 24 hours with a combination of social media, live events, and gamification.