GA Keen Realty Advisors to market Metropark sites
Woodland Hills, Calif. — GA Keen Realty Advisors, a division of Great American Group, has been retained to assist in the marketing and disposition of 70 leased properties across 21 states operated by Metropark, which filed for bankruptcy earlier this month. Metropark’s retail properties, which range in size from 2,000 sq. ft. to 3,500 sq. ft., are concentrated in the West (California, Arizona, Colorado, Nevada and Texas) and in the East (New York, New Jersey, Pennsylvania, Georgia and Florida).
“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.”
The bid deadline has been set for May 25 – with the auction set for May 26.
Retail Rap: Downsizing may mean compromising brand
New York City — Retail real estate columnist Jeff Green has unveiled his newest opine on Chain Store Age’s real estate community website, discussing the impact – both positive and negative – that reducing a store footprint could have on a store’s brand.
In his latest column, “Big Names, Smaller(er) Stores,” Green suggested that big players such as Wal-Mart and Target are “clearly trying to shake things up in order to have a little bit more flexibility and, in some cases, get a foothold in urban areas, but it seems like they’re making some strong compromises to do it.”
To read Green’s column, click here.
Gap to open stores in Serbia and Ukraine
San Francisco — Gap plans to open stores in Serbia and Ukraine later this year as its continues to expand its international operations.
The chain said Friday that it signed new deals with existing franchise partners that will put Gap stores in Belgrade and Kiev.
According to Stephen Sunnucks, the company’s international president, the Ukraine is the fastest-growing retail market in Eastern Europe, while Serbia has many young customers who enjoy shopping.
Gap has been making an international push, expanding from two to 24 countries throughout Asia, Europe, Latin America, the Middle East and Australia over the past five years. The retailer, which has about 180 franchise stores, plans to increase the total to 400 by fiscal 2015.