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02/21/2019

2,587 Payless leases up for grabs

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Payless ShoeSource has retained A&G Realty Partners to dispose of all of its store leases in the United States and Canada.

The chain, which filed for bankruptcy protection on February 18, fielded locations across the expanse of retail real estate categories — malls, strip centers, free-standing highway locations, and urban street shops.

A&G co-president Emilio Amendola predicts he’ll see a high level of interest for the Payless stores, which span all 50 states, the District of Columbia, all 10 Canadian provinces, and Puerto Rico.

“We expect a strong response from national, regional, and local tenants,” he said.

The leases will be sold in multi-tiered auctions, aligned with groups of monthly store closings that are expected to begin in March and conclude in May.

Payless stores being offered range from 500 sq. ft. to 10,000 sq. ft., with an average size being 3,000 sq. ft. Available leases include 255 locations in California, 192 in Texas, 170 in Florida, and 157 in New York.

Details on specific locations can be found here.