MELVILLE, NY–A&G Realty Partners, a commercial real estate, advisory and investment group, has been retained by real estate company Madison Capital to manage the sale of the 39 Loehmann‘s retail store leases following the company’s recent Chapter 11 bankruptcy filing.
A&G Realty is accepting bids to acquire the leases, which range from 15,000 to 60,000 square feet and average 25,000 square feet. The leases up for sale are on properties in key retail locations in California, New York, New Jersey, Florida, Connecticut, Washington DC, Georgia, Illinois, Maryland, Michigan, Texas, and Virginia, among other markets.
“The leases are the property of Madison Capital,” explains Michael Jerbich, principal of A&G. “Retailers have the opportunity to take over the leases by either acquiring the rights from Madison outright or can offer to sublease the space from Madison. These leases are exceptional retail opportunities with interest from many national and local retailers.”
“The leases have significant value,” adds Richard Wagman, managing partner of Madison Capital. “The portfolio includes many dynamic retail markets throughout the country with unique opportunities such as La Cienega Beverly Hills, Sutter street in San Francisco, the Chelsea area in New York and Paramus, New Jersey.”