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Deal comes amid continued economic uncertainty and a sharp rise in online sales

Sainsbury’s and British Land have sold 12 superstores to a US property investment company for £492m, amid a struggling retail property market.

The sale to San Diego-based Realty Income Corporation will give Sainsbury’s net proceeds of £133m. British Land’s share of the sale will be £193.5m, although net proceeds will only be £95m after debt and contract break costs, it said in a statement to the stock market on Tuesday.

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from US news | The Guardian http://bit.ly/2VjzaaS