Forever 21 - S/S Collection 2010

Sears Holdings announces on Tuesday that the company has signed a long-term lease with Forever 21 to occupy approximately 43,000 square feet of its highly successful retail store property at South Coast Plaza in Costa Mesa, California.

Alan Shaw, vice president, Leasing and Development for Sears Holdings states, "Forever 21 is a world-class retailer and will provide energy and excitement to the northwest quadrant of South Coast Plaza, benefitting all the retailers in this area of the shopping center."

South Coast Plaza is recognized internationally for its unparalleled collection of over 250 boutiques including brands; Oscar de la Renta, Balenciaga, Hermes, Barneys New York and H&M.

Forever 21 operates a fast fashion concept, welcoming fresh merchandise offerings each day. The retailer operates over 480 stores in U.S locations as well as internationally in Canada, Korea and Japan.

The XXI Forever store will lease a small portion of the Californian shopping center's upper level and a portion of the lower level space.

The store is expected to open in the spring of 2011.

"This agreement is a great example of Sears Holdings selectively redeploying its asset base to improve the retail experience for consumers while working to create long-term shareholder value," said Jeff Stollenwerck, president, Real Estate for Sears Holdings.



By Rosie Hart