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Auction Set for 790 Joann Store Leases, Five Warehouses
GA Group and A&G Real Estate Partners plan to auction 790 retail store leases and five distribution centers in conjunction with the wind-down of fabric and crafts retailer Joann Inc. following its January filing for Chapter 11 bankruptcy. The bid deadline is April 16 and the auction is expected to occur in New York on April 22.
The available leases cover a range of property types across 49 states, including freestanding stores, power centers, strip malls and urban retail corridors, ranging from 7,500 to 52,000 square feet. No fee-owned properties are available in the auction.
“This diverse portfolio offers strong real estate fundamentals, prime high-traffic locations, and turnkey spaces ready for immediate occupancy,” said Michael Jerbich of GA Group. “This auction offers business owners and investors a prime opportunity to expand their footprint and strengthen their local presence.”
GA Group was recognized in February as the successful bidder to serve as exclusive agent to monetize substantially all Joann’s assets.
- ◦Sale/Acquisition
