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MINNETONKA, MN-DJM Asset Management LLC has been retained as real estate advisor to dispose of leases in the Drug Emporium bankruptcy case. The move comes after Drug Emporium, F& M and VIX stores filed for Chapter 11 bankruptcy protection on Sept. 12.

DJM will market approximately 77 retail leases in nine states with most of the stores being available by November 1, 2003 or earlier. Drug Emporium had bought out Michigan’s F&M stores several years ago, and in 2001 Drug Emporium itself was bought out of bankruptcy by the Katz Group, but couldn’t make a go of it.

“The locations that we are marketing include properties of between 7,975 sf to 41,278 sf in both freestanding and strip center locations,” said Emilio Amendola, Principal of DJM. “Due to the fast nature of this bankruptcy case, all offers will be due no later than October 21, 2003.”

The leases available include properties in Pennsylvania, New Jersey, New York, Michigan, Ohio, Missouri, Oklahoma, Kentucky and Wisconsin. Not affected are several independently owned and operated Drug Emporium stores in Texas and West Virginia.

Based in Melville, NY, DJM Asset Management LLC assists retailers with the disposition of unwanted locations, leasehold evaluations and lease mitigation.

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