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Stage Stores Warehouse in East TX Trades in Bankruptcy Sale
A&G Real Estate Partners completed bankruptcy court-approved sales of Stage Stores, Inc.’s Jacksonville, TX distribution center and two other properties to two buyers. The Melville, NY-based A&G has been serving as real estate advisor for the Houston-headquartered retailer, which filed for Chapter 11 protection in May and has since liquidated all 738 stores.
In the largest transaction, Bradenton, FL-based retailer Bealls Inc. acquired the fee interest for Stage’s 435,196-square-foot distribution center in Jacksonville—coincidentally located at 506 Beall Blvd.—including undeveloped land for expansion. Bealls’ winning $7-million bid included the facility’s machinery and equipment, and the company’s intellectual property.
A&G also sold two other sites owned by Stage Stores: an income-producing industrial RTV (return to vendor) center in Jacksonville and a retail site in Logan, WV. Both were acquired for a combined $360,000 by Jetall Companies, Inc., a real estate investment and management firm out of Houston.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
