Prime retail real estate in Southern California and nearby states is now available after bankrupt Sport Chalet retained A&G Realty Partners to sell its assets.
Following its recent Chapter 11 bankruptcy filing, Sport Chalet retained A&G Realty Partners to manage the sale of 58 retail store and office and distribution center leases. The firm is currently accepting bids on the leases, which range from 12,000 sq. ft. to 50,000 sq. ft. and are located in located in Arizona, California, and Nevada.
In addition, bids are being accepted for the Sport Chalet corporate office in La Canada and distribution facilities in Ontario and Van Nuys, which range from 12,140 sq. ft. to 326,543 sq. ft. The auction is tentatively set for early June, however the debtors will seek court approval for exceptional private sales on a more accelerated timetable outside the auction process.
“The company has many attractive below market rate leases that are very well positioned in the top retail markets in California. By taking assignment of leases, retailers have the opportunity to enter hard to penetrate markets and centers and be open for business this year,” said Emilio Amendola, A&G co-president. “The availability of these leases is expected to attract interest from several national and local retailers and investors.”
New York-based A&G was founded in 2012 and also has offices in Los Angeles and Chicago. The firm specializes in real estate dispositions, lease restructurings, facilitating growth opportunities, valuations and acquisitions.