{"id":30,"date":"2020-03-19T13:29:57","date_gmt":"2020-03-19T13:29:57","guid":{"rendered":"https:\/\/yardiblogs.yardi.com\/commercialsearch\/?p=30"},"modified":"2022-01-12T13:47:22","modified_gmt":"2022-01-12T13:47:22","slug":"markets-137-modells-retail-leases","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/blog\/markets-137-modells-retail-leases\/","title":{"rendered":"137 Modell\u2019s Retail Leases Hit the Market"},"content":{"rendered":"<p>Earlier this month, Modell\u2019s Sporting Goods \u2013 the country\u2019s oldest family-owned and -operated retailer of sporting goods \u2013 voluntarily filed for relief under Chapter 11 and announced store closing liquidation sales. The company is also working with lenders, vendors, and landlords through the restructuring and recapitalization of the business.<\/p>\n<p>As part of these recovery efforts, A&amp;G Real Estate Partners has begun marketing 137 store leases in nine Mid-Atlantic and Northeastern states, as well as in the District of Columbia. The available stores range in size between 6,800 and 32,700 square feet, and boast excellent locations, such as in prime highway retail centers, busy central business districts and regional malls. In addition to favorable rents, many of the leases also offer multiple renewal options, according to A&amp;G statements.<\/p>\n<p>Emilio Amendola, co-president of A&amp;G, praised the quality of the 111-year old company\u2019s real estate strategy.<\/p>\n<blockquote><p>\u201cThis iconic brand had an extraordinary real estate strategy, with the family-owned business assembling one of the strongest portfolios of <a href=\"https:\/\/www.commercialcafe.com\/retail\/us\/ny\/new-york-city\/\" target=\"_blank\" rel=\"noopener noreferrer\">top retail locations in New York City<\/a>\u2019s five boroughs \u2013 an area with significant barriers to entry,\u201d he said. \u201cSimilarly, the vast majority of Modell&#8217;s sites on Long Island and in New Jersey, Pennsylvania, New England and the Mid-Atlantic are \u2018A\u2019 locations with very advantageous rent structures. Opportunities like this come around once every 10 years.\u201d<\/p><\/blockquote>\n<p>He also added, \u201cThe Modell\u2019s sites offer tremendous opportunities for specialty retailers, restaurants, medical tenants and other uses.\u201d<\/p>\n<p>Modell\u2019s is confident that, even in the midst of what is considered to be a challenging retail environment, its sale and recapitalization efforts are in good hands. CEO, Mitchell Modell, stated that the company had partnered with A&amp;G Real Estate Partners in the past on both the sale and re-negotiation of leases, and A&amp;G had delivered phenomenal results.<\/p>\n<p>Modell\u2019s Chief Restructuring Officer, Bob Duffy, said, \u201cA&amp;G has always delivered maximum returns to the creditors in these unfortunate circumstances. We are confident they will do that in this case, as well.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Earlier this month, Modell\u2019s Sporting Goods \u2013 the country\u2019s oldest family-owned and -operated retailer of sporting goods \u2013 voluntarily filed for relief under Chapter 11 and announced store closing liquidation sales. The company is also working with lenders, vendors, and landlords through the restructuring and recapitalization of the business. As part of these recovery efforts, A&amp;G Real Estate Partners has begun marketing 137 store leases in nine Mid-Atlantic and Northeastern states, as well as in the District of Columbia. The available stores range in size between 6,800 and 32,700 square feet, and boast excellent locations, such as in prime highway&#8230;<\/p>\n","protected":false},"author":48,"featured_media":33,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6,7],"tags":[],"class_list":["post-30","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-retail-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>137 Modell\u2019s Retail Leases Hit the Market<\/title>\n<meta name=\"description\" content=\"A&amp;G Real Estate Partners has begun marketing 137 retail leases in nine Mid-Atlantic and Northeastern states, as well as in the District of Columbia\" \/>\n<meta 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