Bankruptcy Lease Auction* - GA Keen Realty Advisors Markets DAFFY'S Retail Sites in New York, New Je
Bankruptcy Lease Auction* - GA Keen Realty Advisors Markets DAFFY'S Retail Sites in New York, New Jersey
-Former Daffy's retail locations offer strategic locations, flagship potential-
NEW YORK--(BUSINESS WIRE)-- GA Keen Realty Advisors, a division of Great American Group, Inc. (OTCBB: GAMR), is marketing several world-class lease opportunities that offer strategic retail locations in New York City and surrounding areas and boroughs, along with three sites in northeastern New Jersey.
GA Keen Realty Advisors has been retained by Jericho Acquisitions I, LLC and Aurora Capital Associates to market the remaining 11 former Daffy's high-fashion discount stores as part of a bankruptcy lease auction, according to GA Keen Realty Advisors Co-President Harold Bordwin.
"All sites are available at below-market lease rates and are in strategic locations with flagship potential, which make these properties desirable for retailers who want to make inroads into New York City and its adjacent markets," Bordwin said.
The retail spaces range from 17,000 to 54,000 square feet in size and are at the following locations:
Route 1 and Route 9 North, Elizabeth, New Jersey
165 Route 4 West, Paramus, New Jersey (Paramus Place)
215 Route 46 West, Totowa, New Jersey (Totowa Shopping Center)
2146 Bartow Ave., Bronx, New York (Bay Plaza)
88-01 Queens Blvd., Elmhurst, New York (Queens Place)
1900 Northern Blvd., Manhasset, New York
335 Madison Ave. at 44th St., New York City
135 East 57th St., New York City
1775 Broadway at 57th St., New York City
229 West 43rd St., New York City
3 East 18th St., New York City
The bid deadline is Friday, Dec. 7 and an auction date is currently set for Wednesday, Dec. 12. All transactions are subject to bankruptcy court approval. "We have the ability to transact prior to the bid deadline so we encourage all interested parties to reach out to us immediately." For more information about the properties, contact Harold Bordwin at 646-381-9222 or email daffys@greatamerican.com.
Daffy's Inc., founded in 1961 and based in Secaucus, New Jersey, was known for selling national fashion brands at up to 80 percent off list prices. A victim of a fiercely competitive landscape that had already claimed rivals Syms and Filene's Basement, the company announced it was going out of business in July.
GA Keen Realty Advisors provides real estate analysis, valuation and strategic planning services, brokerage, M&A, auction services, lease restructuring services and real estate capital market services. For more information, contact GA Keen Realty Advisors at (646) 381-9222 or visit http://www.greatamerican.com/services/real_estate/real_estate.html.
About Great American Group, Inc. (OTCBB: GAMR)
Great American Group is a leading provider of asset disposition and auction solutions, advisory and valuation services, capital investment, and real estate advisory services for an extensive array of companies. A trusted strategic partner at every stage of the business lifecycle, Great American Group efficiently deploys resources with sector expertise to assist companies, lenders, capital providers, private equity investors and professional service firms in maximizing the value of their assets. The company has in-depth experience within the retail, industrial, real estate, healthcare, energy and technology industries. The corporate headquarters is located in Woodland Hills, Calif. with additional offices in Atlanta, Boston, Charlotte, N.C., Chicago, Dallas, New York, San Francisco and London. For more information, call (818) 884-3737 or visit www.greatamerican.com.
* Disclosure-Pursuant to an Order dated August 8, 2012, of the United States Bankruptcy Court presiding over the Chapter 11 case, Case #12-13312( MG) In Re Daffy's Inc. ("Daffy's"), Daffy's was authorized to sell certain assets to Jericho Acquisition I, LLC ("Jericho") including but not limited to its interest in certain real property leases. Jericho has retained GA Keen Realty Advisors, LLC and Keen Realty, LLC to conduct an auction in order to sell these real property leases acquired from Daffy's.
Great American Group
Connie Stevens, Marketing Manager
847-943-2094
cstevens@greatamerican.com
or
Mulberry Marketing Communications
Ron Whittington
Senior Account Executive
904-355-8680
rwhittington@mulberrymc.com
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