A&G Realty Partners Begins Marketing of 137 Modell’s Store Leases
Mar 13, 2020
MELVILLE, N.Y., March 16, 2020 /PRNewswire/ -- A&G Real Estate Partners (A&G) has begun marketing 137 Modell's Sporting Goods store leases in nine Northeastern and Mid-Atlantic states and the District of Columbia in connection with the 111-year-old retailer's voluntary Chapter 11 bankruptcy filing and liquidation.
Full information on the leases is now available at www.agrep.com. An auction date and deadline for bids will be announced at a later date.
Emilio Amendola: "With locations in prime highway retail centers, busy central business districts and regional malls, the Modell's sites offer tremendous opportunities for specialty retailers, restaurants, medical tenants and other uses."
"This iconic brand had an extraordinary real estate strategy, with the family-owned business assembling one of the strongest portfolios of top retail locations in New York City's five boroughs—an area with significant barriers to entry," said A&G Co-President Emilio Amendola. "Similarly, the vast majority of Modell's sites on Long Island and in New Jersey, Pennsylvania, New England and the Mid-Atlantic are 'A' locations with very advantageous rent structures. Opportunities like this come around once every 10 years."
The available stores average 17,500 square feet and range in size from 6,800 to 32,700 square feet. "In addition to favorable rents, many of the leases offer multiple renewal options," he added.
"With locations in prime highway retail centers, busy central business districts and regional malls, the Modell's sites offer tremendous opportunities for specialty retailers, restaurants, medical tenants and other uses," Amendola noted. "Given the quality of this real estate, we anticipate a robust response."
"We have partnered with A&G in the past on both the sale and re-negotiation of leases, and they have delivered phenomenal results," said Mitchell Modell, CEO of Modell's Sporting Goods. Bob Duffy, Managing Partner of BRG and Chief Restructuring Officer of Modell's Sporting Goods, added: "A&G has always delivered maximum returns to the creditors in these unfortunate circumstances. We are confident they will do that in this case as well."
For more information on the available leases, visit www.agrep.com or contact Emilio Amendola, [email protected], (631) 465-9507; Mike Matlat, [email protected], (631) 465-9508; or Todd Eyler, [email protected], (631) 465-9510
Press Contact: At Jaffe Communications (908-789-0700), Bill Parness, or
Elisa Krantz, [email protected]
SOURCE A&G Real Estate Partners
Related Links
More News
More tea? How Scotland's crops of the future could be set to change
Experts are examining the ways Scotland's farmers might diversify and adapt to a changing climate.
China is bringing car production to EU
China has moved from exporting cars to bringing entire auto industry ecosystems, building up production capacity in Europe and boosting partnerships with local companies. Arthur D. Little's automotive expert Philipp Seidel tells France 24 that while tariffs and quotas can buy time, EU carmakers must improve their own competitiveness and not become too dependent on Chinese suppliers. But first, we look at the latest IMF global growth forecast and warning about rising debt.
Lawmakers ask FAA to pause use of new AI tool in DC-area flight management
USA-AVIATION:Lawmakers ask FAA to pause use of new AI tool in DC-area flight management
Tech Life
The plan for an orbiting data centre involves linking satellites around Earth.
NASA’s Perseverance Rover Sets a Mars Driving Record
Advances in self-driving technology have made it easier to traverse distant worlds.
NASA’s Perseverance Rover Sets a Mars Driving Record
Advances in self-driving technology have made it easier to traverse distant worlds.
Canadian astronaut Joshua Kutryk says he's 'having a blast' on the International Space Station
In his first Q&A from the International Space Station, Canadian astronaut Joshua Kutryk talks about relearning how to sleep, eat and work in space.
Tighter AI data access could cost Germany €155 billion a year, ifo says
GERMANY-AI:Tighter AI data access could cost Germany €155 billion a year, ifo says
'Jellyfish' effect lights up US sky after SpaceX launch
A 'Jellyfish' effect lit up the sky in US after a SpaceX Falcon 9 rocket launch.
Police confiscate robot that groped 16-year-old girl, probe whether young men were at the controls
Police confiscate robot that groped 16-year-old girl, probe whether young men were at the controls
Ayush Ministry issues standard treatment guidelines for dermatological disorders
Guidelines cover psoriasis, dermatitis, vitiligo and other dermatological conditions across Ayurveda, Siddha, Unani and Homoeopathy
Anthropic Warns Small AI Models Could Soon Form Self-Propagating IoT Botnets
Small artificial intelligence (AI) models may be months away from developing capabilities to self-replicate on IoT devices like smart ovens and off-brand Android TV boxes, according to a warning from Anthropic. The frontier AI lab said small AI models could form autonomous, self-propagating worm botnets that are "challenging to shut down," since "there's no centralized point to shut off."
Recommended
How long will humans be needed for translation?
Is it OK for jobseekers or employers to use AI?
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.