HARRISBURG, Pa. (WHTM) — The Sears store in Harrisburg is officially closing. According to a statement from Transformco, the plan is in place in order to redevelop and reinvigorate the property.

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“This is part of the company’s strategy to unlock the value of the real estate and pursue the highest and best use for the benefit of the local community. We continue to operate the Camp Hill store,” Transformco said in a statement.

The redevelopment details will be announced on a future date as they are finalized.

“This location has potential for redevelopment within a variety of asset classes,” Scott Carr, president of Real Estate for Transformco, said.  “We intend to reinvigorate and maximize the value of the real estate to meet the needs of the Harrisburg market.”

As of now, the company’s strategy for Sears is “to operate a diversified portfolio consisting of a small number of larger, premier stores with a larger number of small-format stores.”

This is a developing story, check back for updates on the redevelopment as plans are finalized.