Modell's Sporting Goods.Credit: Flickr.
NEW YORK CITY- Modell's SportingGoods has 137 leases up for grabs as the retailer has just recentlyfiled for Chapter 11 bankruptcyand liquidation and hastapped A&G Real Estate Partners to begin marketingthem. The store leases are in nine Northeastern and Mid-Atlanticstates and the District of Columbia. The 111-year-old retailer hasmade its leases available online for auction at Agrep.com, forwhich a deadline has not been set and will be announced at a laterdate.
"This iconic brand had anextraordinary real estate strategy, with the family-owned businessassembling one of the strongest portfolios of top retail locationsin New York City's five boroughs—an area with significant barriersto entry," said A&G Co-President Emilio Amendola in a preparedstatement. "Similarly, the vast majority of Modell's sites on LongIsland and in New Jersey, Pennsylvania, New England and theMid-Atlantic are 'A' locations with very advantageous rentstructures. Opportunities like this come around once every 10years."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
