A&G Realty Partners will auction 10 department store properties formerly owned by The Bon-Ton Stores on Jan. 28 in New York City. All bids for the bankruptcy auction, which centers on fee-owned properties in six states, are due Jan. 25.
Stores range from 45,000 to 165,000 square feet, and include locations in Iowa, Pennsylvania, Michigan, Minnesota, Indiana and Illinois. They formerly operated under the Bergner’s, Herberger’s, Carson’s, Younkers, Elder-Beerman and Bon-Ton banners.
Three of the properties—in Coralville, IA and St. Paul and St. Cloud, MN—are located in Qualified Opportunity Zones, said A&G’s Emilio Amendola. “We’re seeing massive interest in these incentives among high-net-worth investors and diverse real estate funds alike,” he said.
Along with the capital gains tax deductions that can be achieved through Opportunity Zone investments, “many Opportunity Zones nationwide are in gentrifying areas with strong growth potential,” Amendola added.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).