Real estate advisory and brokerage firm A&G Realty Partners will auction seven department store properties formerly owned by the Bon-Ton Stores, Inc., on Sept. 20 in Chicago. All bids for the auction, which centers on fee-owned properties in six states, are due Sept. 18.
With stores ranging in size from 46,000 to 150,000 square feet, the available assets include two locations in Michigan as well as properties in Illinois, New York, Indiana, Ohio and Pennsylvania. They were formerly operated under the Carson’s, Younkers, Elder-Beerman and Bon-Ton banners.
The bankruptcy auction will begin at 10 a.m. on Sept. 20 at the Chicago offices of debtors’ counsel Jones Day LLP, 77 West Wacker Dr. The auction is contingent upon receipt of sufficient bids by the Sept. 18 bid deadline.
“This auction presents an exceptional opportunity for buyers to advance their real estate strategies with well located, high-visibility big-box sites that can work for single-users or be subdivided,” said Michael Jerbich, a Chicago-based Principal at A&G, which is headquartered in Melville.
Available at auction are:
- the Carson’s at Spring Hill Mall in West Dundee, Ill. (128,000 square feet);
- the downtown Richmond, Ind., Elder-Beerman (100,000 square feet);
- the Younkers at RiverTown Crossings in Grandville, Mich. (150,018 square feet);
- the Younkers at The Lakes Mall in Muskegon, Mich. (106,131 square feet);
- the Bon-Ton at Lockport (N.Y.) Mall (82,000 square feet);
- the Elder-Beerman at Colony Square Mall in Zanesville, Ohio (58,997 square feet); and
- the Bon-Ton at Lewistown (Penn.) Mall (46,660 square feet)
This past May, A&G was retained to dispose all real estate assets of The Bon-Ton Stores, Inc., 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 is concluding the liquidation of all merchandise inventories, store fixtures and other non-real estate assets.