A&G Real Estate Partners marketing Modell’s store leases
The bankrupt Modell’s Sporting Goods chain has entered its final chapter.
A&G Real Estate Partners 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 family-owned retailer’s Chapter 11 filing and liquidation.
The available stores, which average 17,500 sq. ft., and range in size from 6,800 sq. ft. to 32,700 sq. ft., are located in the metro New York area and other key Northeast and Mid-Atlantic markets.
“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, he added, 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.
In addition to favorable rents, many of the store leases offer multiple renewal options, according to 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,” he noted.
Full information on the leases is available at agrep.com. An auction date and deadline for bids will be announced at a later date.