A&G Real Estate Partners, real estate advisor to Party City Holdco, plans to auction 695 Party City store leases as the nearly 40-year-old celebrations retailer begins to wind down its operations. Going-out-of-business sales are now underway at those retail locations. The bid deadline and auction likely will be in early February.
“This is a large and diverse store portfolio, with good real estate and a great many stores located in high-traffic shopping centers,” Emilio Amendola, co-president of A&G and leader of the New York-based company’s real estate sales division, said. “This auction represents an extraordinary opportunity for expanding operators in what marks the end of an era in the retail industry.”
“This offers operators the chance to open in turnkey spaces that are ready for immediate occupancy with favorable lease terms in both suburban and urban retail markets,” Andy Graiser, co-president of A&G, said.
“You’ve got a number of strong candidates for this real estate,” Mike Matlat, managing director of A&G, said. “The list includes gyms and entertainment tenants, dollar stores, local specialty retailers, furniture stores and medical office clinics.”
The leases are for freestanding stores as well as those located in power centers, strips and city street locations; no fee-owned properties are available in the auction.
Alaska (1)
Alabama (10)
Arkansas (1)
Arizona (15)
California (82)
Colorado (13)
Connecticut (12)
Delaware (2)
Florida (59)
Georgia (27)
Iowa (6)
Illinois (37)
Indiana (16)
Kansas (3)
Kentucky (7)
Louisiana (7)
Massachusetts (20)
Maryland (20)
Maine (2)
Michigan (20)
Minnesota (10)
Missouri (12)
Mississippi (1)
North Carolina (21)
North Dakota (4)
Nebraska (3)
New Hampshire (3)
New Jersey (26)
New Mexico (3)
Nevada (5)
New York (46)
Ohio (23)
Oklahoma (6)
Oregon (2)
Pennsylvania (25)
Rhode Island (2)
South Carolina (10)
Tennessee (14)
Texas (72)
Virginia (19)
Vermont (1)
Washington (16)
Wisconsin (10)
West Virginia (1)
The auction will take place at the Manhattan office of PCHI legal counsel Paul, Weiss, Rifkind, Wharton & Garrison, located at 1285 Avenue of the Americas.
