GA Keen Realty Advisors, a division of Great American Group L.L.C., a leading provider of asset disposition, valuation and appraisal services, has been retained to assist in the marketing and disposition of 70 leased properties across 21 states operated by Metropark – a high-end clothing company that filed for bankruptcy earlier this month.
“Metropark has locations in some of the best malls and centers in the country, with great locations within those malls with build-outs that are first class,” said Matthew Bordwin, Co-President of GA Keen Realty Advisors. “This represents a great opportunity for another retailer to move right in with little up-front costs on build-out. Also, retailers have a unique chance to get “A” space in multiple locations at the same time.”
Bordwin adds that it's imperative that any interested parties should move quickly, since the bid deadline has been set for Wednesday, May 25 – with the auction set for May 26.
GA Keen Realty Advisors specializes in the sale of real estate and enterprises, lease renegotiations and restructurings and strategic planning and valuation services for retailers as well as other property owners, tenants and investors. It also provides real estate investment banking, debt restructuring and receivership and other fiduciary services.
Metropark's retail properties, which range in size from 2,000 square feet to 3,500 square feet, are located throughout the country. The majority are concentrated in the Western United States (California, Arizona, Colorado, Nevada and Texas) and the East Coast (New York, New Jersey, Pennsylvania, Georgia and Florida).
A Los Angeles-based retailer of premium denim, other clothing and accessories, Metropark filed for Chapter 11 bankruptcy protection on May 2. It opened its first store in 2004. The stores, which targeted 25- to 35-year-old customers, provided style consultants, and hosted in-store events such as live-art installations, fashion shows and DJ performances.
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