1. News
May 10, 2018

A&G Realty to sell 230 Bon-Ton Stores locations

A&G Realty Partners has been retained to sell 230 owned and leased assets of The Bon-Ton Stores, on behalf of a joint venture group, including Great American Group, LLC, Tiger Capital Group and Bon-Ton's Second Lien Noteholders.

A&G Realty Partners has been retained to sell 230 owned and leased assets of The Bon-Ton Stores, on behalf of a joint venture group, including Great American Group, LLC, Tiger Capital Group and Bon-Ton’s Second Lien Noteholders.

Last month, the joint venture acquired the assets from the retailer through a bid submitted to the US Bankruptcy Court for the District of Delaware.

The 230 assets under the sale process include 22 fee-owned properties, seven ground leases and 194 leased locations.

"These centrally located facilities are ideal for expanding or relocating companies in the rapidly growing US distribution sector."

Retail locations covered in the deal include 157 department stores at regional malls, 39 stores in open-air shopping centres, 16 freestanding stores, nine furniture galleries and two clearance stores.

A&G Realty Partners co-president Andy Graiser said: “These stores are located in well-performing regional markets. The availability of these locations creates a wide range of possibilities for expanding retail chains, as well as developers across the entire real estate spectrum.

“Opportunities range from traffic-driving stores, food halls and entertainment venues, to healthcare, residential, education and other non-retail uses.”

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In addition, other properties offered for sale include four distribution centres, five office spaces and one e-commerce fulfilment centre.

A&G Chicago principal Michael Jerbich said: “These centrally located facilities are ideal for expanding or relocating companies in the rapidly growing US distribution sector.”

“Given the robust national demand for best-in-class e-commerce fulfilment centres, this facility has already generated tremendous interest from several national brands and retailers.”

Bon-Ton Stores filed for Chapter 11 bankruptcy protection on 4 February.  It operates department stores under various brands, including Boston Store, Bergner’s, Carson’s, Elder-Beerman, Herberger’s, and Younkers in 23 US states.