Daily News: March 19, 2015

RadioShack Retains DJM to Dispose of Seven Properties


RadioShack Retains DJM to Dispose of Seven Properties

DJM Real Estate, a division of Gordon Brothers Group, was retained by RadioShack to exclusively manage the disposition of seven owned industrial properties.

DJM Real Estate, a division of Gordon Brothers Group, was retained by RadioShack to exclusively manage the disposition of seven owned industrial properties. These properties are located in Texas, California, Iowa and North Carolina, and are available for immediate sale. The properties can be purchased individually or in any combination, subject to U.S. bankruptcy court approval.

The properties include three major distribution centers in Ft. Worth, TX and Woodland, CA; individually ranging in size from 324,475 square feet to 639,000 square feet; and four properties located in Ft. Worth, TX, W. Burlington, IA; and Swannanoa, NC; individually ranging in size from 100,827 square feet to 151,000 square feet. All properties will be delivered vacant.

“This portfolio of RadioShack’s distribution centers and warehouses has drawn a lot of attention already. We have received strong expressions of interest from national players as well as regional and local investors. We have been speaking to some potential owner occupier replacement tenants as well. It is likely that the properties will be sold off individually to buyers but we are also in discussions with bulk portfolio purchasers. We anticipate a series of successful auctions for the sale of these properties, most likely through the ‘stalking horse’ process,” said Mark Dufton, CEO of DJM Real Estate.