A&G Real Estate Partners (A&G) has begun marketing leases for approximately 280 store locations across the United States that are being closed by Stein Mart, a chain based in Jacksonville, Fla., U.S., in connection with its voluntary Chapter 11 bankruptcy. The firm, which was retained as the retailer’s real estate advisor, is also offering leases for three distribution centers and two office properties.
The spaces range from 25,000 to 51,000 sq. ft. and average 35,000 sq. ft. Stores are located in 30 states, with heavy concentrations in Arizona, California, Florida, Georgia, North Carolina, Ohio, South Carolina, Tennessee, Texas, and Virginia.
“The Stein Mart stores offer excellent opportunities for expansion-minded retailers, grocers, gyms, entertainment venues, large medical facilities, and other users to gain entry in coveted power centers, lifestyle centers, and neighborhood centers at favorable rents,” says A&G Co-President Emilio Amendola. “With many of the leases also offering options, these sites are also attractive to investors.”
Leases for distribution centers include a 91,761-sq.-ft. facility in Ontario, Calif.; a 75,050-sq.-ft. building in Grand Prairie, Texas, and a 30,122-sq.-ft. site in Lithia Springs, Ga. Also available are a pair of 32,200-sq.-ft. offices in Jacksonville.
“These distribution centers and offices provide strong opportunities for companies of all types to pick up leases for well-located properties at low rents,” says A&G Senior Managing Director Mike Matlat.
Stein Mart and its subsidiaries filed voluntary petitions Aug. 12, 2020 for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Middle District of Florida – Jacksonville Division. Liquidation sales are currently under way at all locations.
A listing of the individual leases is available at www.agrep.com.