{"id":1004477833,"date":"2020-09-15T03:45:38","date_gmt":"2020-09-15T11:45:38","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004477833"},"modified":"2020-09-15T05:49:27","modified_gmt":"2020-09-15T13:49:27","slug":"disposition-of-stein-mart-leases-begins","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/disposition-of-stein-mart-leases-begins\/","title":{"rendered":"Stein Mart Leases Disposition Begins"},"content":{"rendered":"
\"\"<\/a>

Emilio Amendola, Co-President, A&G Real Estate Partners. Image courtesy of A&G Real Estate Partners<\/em><\/p><\/div>\n

In connection with its voluntary Chapter 11 bankruptcy and the resulting store closures, Stein Mart Inc., of Jacksonville, Fla., has assigned to A&G Real Estate Partners the job of marketing leases<\/a> for about 280 store locations across the U.S. As the retailer’s real estate advisor, A&G, of Melville, N.Y., is also offering leases for three distribution centers and two office properties.<\/p>\n

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READ ALSO<\/strong>: Century 21 Files for Bankruptcy, Plans to Close All 13 Stores<\/a><\/p>\n

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Stein Mart stores range from 25,000 to 51,000 square feet and average 35,000 square feet. The chain, which filed for bankruptcy protection on Aug. 12, has stores in 30 states, with concentrations in Arizona, California, Florida, Georgia, North Carolina, Ohio, South Carolina, Tennessee, Texas and Virginia.<\/p>\n

The locations offer opportunities for retailers, grocers, gyms, entertainment venues, large medical facilities and other users to gain spaces at favorable rents in power centers, lifestyle centers and neighborhood centers, A&G Co-President Emilio Amendola said in a prepared statement.<\/p>\n

\"\"<\/a>

Mike Matlat, Senior Managing Director, A&G Real Estate Partners. Image courtesy of A&G Real Estate Partners<\/em><\/p><\/div>\n

The three distribution centers are a 91,761-square-foot facility in Ontario, Calif.; a 75,050-square-foot building in Grand Prairie, Texas; and a 30,122-square-foot site in Lithia Springs, Ga. Also available are a pair of 32,200-square-foot offices in Jacksonville.<\/p>\n

Though marketing a few hundred retail leases might not be the easiest task right now, at least this isn\u2019t A&G\u2019s first time at this party. The firm has handled similar dispositions for numerous other retailers.<\/p>\n

Opportunities and challenges<\/h2>\n

\u201cStein Mart\u2019s management was very thrifty when it came to real estate and, consequently, the store portfolio offers a lot of locations with single-digit rents in good markets<\/em>,\u201d Amendola told Commercial Property Executive<\/em>.<\/p>\n

\"\"<\/a>

Stein Mart in Commack, Nassau County, Long Island, N.Y. Image courtesy of A&G Real Estate Partners<\/em><\/p><\/div>\n

\u201cMany of these stores were strong performers for Stein Mart and would be an excellent fit for off-price retailers, as well as supermarkets or other big-box uses<\/em>,\u201d he continued. \u201cAs we\u2019ve seen with projects we\u2019re handling for other retailers, this is a great time for opportunistic, growth-minded chains to pick up excellent locations at cheap rents<\/em>.\u201d<\/p>\n

One of those other retailers is Modell\u2019s Sporting Goods, for which A&G is marketing 137 store leases in the Northeast and Mid-Atlantic. In 2019, A&G finished up the sale of The Bon-Ton Stores\u2019 last remaining department store properties.<\/p>\n

Ongoing economic and employment uncertainty will cause consumers to spend \u201cmore cautiously and selectively<\/em>\u201d even though consumer confidence is rebounding, according to a midyear retail outlook from CBRE. Discount retailers are thus expected to do well.<\/p>\n

Consumers \u201cappear eager to return to brick-and-mortar retail for services and products that are not available online<\/em>,\u201d such as beauty services, dining, as well as health and wellness, said CBRE.<\/p>\n","protected":false},"excerpt":{"rendered":"

A&G Real Estate Partners is marketing leases for 280 stores, along with distribution and office space, as part of the discount retail chain\u2019s bankruptcy.<\/p>\n","protected":false},"author":882,"featured_media":1004477839,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,23891,21742,21749],"tags":[50209,32789,33879,36167],"class_list":["post-1004477833","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-national","category-latest","category-retail","tag-ag-real-estate-partners","tag-cbre","tag-real-estate-bankruptcy","tag-stein-mart-inc"],"acf":[],"yoast_head":"\nStein Mart Leases Disposition Begins - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/disposition-of-stein-mart-leases-begins\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stein Mart Leases Disposition Begins\" \/>\n<meta property=\"og:description\" content=\"A&G Real Estate Partners is marketing leases for 280 stores, along with distribution and office space, as part of the discount retail chain\u2019s bankruptcy.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/disposition-of-stein-mart-leases-begins\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-09-15T11:45:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-09-15T13:49:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/Emilio-Amendola.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/disposition-of-stein-mart-leases-begins\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/disposition-of-stein-mart-leases-begins\/\",\"name\":\"Stein Mart Leases Disposition Begins - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/disposition-of-stein-mart-leases-begins\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/disposition-of-stein-mart-leases-begins\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/Emilio-Amendola.jpg\",\"datePublished\":\"2020-09-15T11:45:38+00:00\",\"dateModified\":\"2020-09-15T13:49:27+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/disposition-of-stein-mart-leases-begins\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/disposition-of-stein-mart-leases-begins\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/disposition-of-stein-mart-leases-begins\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/Emilio-Amendola.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/Emilio-Amendola.jpg\",\"width\":800,\"height\":620,\"caption\":\"Emilio Amendola, Co-President, A&G Real Estate Partners. 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