Melville, NY — A&G Realty Partners has been retained by Charming Shoppes, Inc. to manage the resolution of all remaining Fashion Bug real estate leases in the United States.
Melville, NY — A&G Realty Partners, a commercial real estate consulting and investment group, has been retained by Charming Shoppes, Inc. to manage the resolution of all remaining Fashion Bug real estate leases in the United States. On June 14, 2012, Ascena Retail Group, Inc., a leading national specialty retailer of apparel for women and tween girls, acquired Charming Shoppes, Inc. and announced plans to cease operating and close down the FASHION BUG® business by early 2013.
“We’re pleased to be working with A&G Realty Partners to wind down our remaining Fashion Bug store leases, given the A&G team’s strong experience and record of success in this area,” says Jonathon Graub, executive vice president of real estate at Charming Shoppes. “Their professionalism and deal-making expertise will help to make this process a win-win for all parties involved.”
“We expect this group of Fashion Bug locations to generate very strong interest from a variety of retailers. We’re faced with a lack of new real estate development and that, combined with favorable lease terms in strong markets, creates a unique opportunity for merchants looking to open in these geographies,” says Emilio Amendola, co-president of A&G Realty Partners. “The Fashion Bug leases have already gained attention from a number of retailers looking to open for business during the next 3 months, as well as developers who are revitalizing their shopping centers. It is not every day a portfolio becomes available which includes a great variety of real estate sites all over the country.”
The 258 leases that are available for assignment or sublease range from 5,000 to 12,000 square feet, and are available in the following locations: Arizona (4), California (12), Colorado (1), Connecticut (6), Delaware (2), Florida (3), Iowa (2), Illinois (12), Indiana (12), Kentucky (9), Massachusetts (12), Maryland (6), Maine (3), Michigan (14), Minnesota (3), Montana (11), Nebraska (2), New Hampshire (3), New Jersey (12), New Mexico (2), Nevada (1), New York (22), Ohio (19), Oklahoma (1), Oregon (5), Pennsylvania (38), Rhode Island (1), Tennessee (1), Texas (7), Virginia (7), Washington (9), Wisconsin (10), West Virginia (5) and Wyoming (1).
For more information regarding the disposition assignment, please email Emilio Amendola at [email protected].