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A&G tapped to sell off bankrupt Bon-Ton assets

A&G Realty Partners has been retained to dispose all of the real estate assets of The Bon-Ton Stores, Inc., on behalf of a joint venture between Great American Group, LLC (a subsidiary of B. Riley Financial, Inc.), Tiger Capital Group, LLC and Bon-Ton’s Second Lien Noteholders.

The joint venture acquired the retailer’s assets on April 18 after submitting the winning bid to the U.S. Bankruptcy Court for the District of Delaware.

Bon-Ton’s retail real estate assets include 22 fee-owned properties, seven ground leases and 194 leased locations with a significant amount of remaining term.

“These stores are located in well-performing regional markets,” said A&G Co-President Andy Graiser. “The availability of these locations creates a wide range of possibilities for expanding retail chains, as well as developers across the entire real estate spectrum. Opportunities range from traffic-driving stores, food halls and entertainment venues, to healthcare, residential, education and other non-retail uses.”

All told, the retail real estate assets include 157 department stores at regional malls, 39 locations in open-air shopping centers, 16 freestanding stores, as well as nine furniture galleries and two clearance stores.

Most of the company’s department stores range from 80,000 to 125,000 s/f, with some as large as 200,000 s/f.

In addition to the stores, A&G is marketing five office facilities and four distribution centers, including a state-of-the-art e-commerce fulfillment center in West Jefferson, Ohio.

With roots dating back to 19th-century Pennsylvania, Bon-Ton Stores filed for Chapter 11 bankruptcy protection on Feb. 4.

The company’s assets include stores and leases in 23 states operating under such names as Boston Store, Bergner’s, Carson’s, Elder-Beerman, Herberger’s and Younkers.

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