A&G Realty Handling Bon-Ton Assets

A&G Realty Partners of Melville has been retained to dispose all of the real estate assets of The Bon-Ton Stores, Inc., which filed for bankruptcy in February.

The realty outfit is operating on behalf of a joint venture between Great American Group, LLC (a subsidiary of B. Riley Financial, Inc.), Tiger Capital Group, LLC and Bon-Ton’s second lien noteholders.

The joint venture acquired the retailer’s assets on April 18 after submitting the winning bid to the U.S. Bankruptcy Court for the District of Delaware. 

Bon-Ton’s retail real estate assets include 22 fee-owned properties, seven ground leases and 194 leased locations. “These stores are located in well-performing regional markets,” said A&G Co-President Andy Graiser. “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.”

The retail real estate assets include 157 department stores at regional malls, 39 locations in open-air shopping centers, 16 freestanding stores, as well as nine furniture galleries and two clearance stores. Most of the company’s department stores range from 80,000 to 125,000 square feet, with some as large as 200,000 square feet.

In addition to the stores, A&G is marketing five office facilities and four distribution centers, including a state-of-the-art e-commerce fulfillment center in West Jefferson, Ohio, noted Michael Jerbich, a Principal in A&G’s Chicago office. “These centrally located facilities are ideal for expanding or relocating companies in the rapidly growing U.S. distribution sector,” he said.

With roots dating back to 19th-century Pennsylvania, Bon-Ton Stores filed for Chapter 11 bankruptcy protection on Feb. 4 (Case No. 18-10248). The company’s assets include stores and leases in 23 states stretching across the Northeast, Midwest and upper Great Plains, from Idaho to New Hampshire. In addition to its eponymous nameplate, Bon-Ton operated historic department stores such as Boston Store, Bergner’s, Carson’s, Elder-Beerman, Herberger’s, and Younkers.

The joint venture between Great American and Tiger Group is currently liquidating all Bon-Ton inventory as well as most other assets, including furniture, fixtures and equipment.

A&G Realty is known for conducting sales of owned and leased real estate assets involving household names in retail. Clients have included Sports Authority, Office Depot, CVS, Supervalu, The Great Atlantic & Pacific Tea Co., Pier1 Imports, Radio Shack and Orchard Supply, to name a few. The firm maintains offices in Melville, N.Y.Los AngelesChicago and Philadelphia.

For a listing of all available properties and contact information, go to: http://agrealtypartners.com/bon-ton

 

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