NORTHRBOOK, Ill.,
April 15,
2024 /PRNewswire/ -- Hilco Real Estate,
LLC (HRE), in collaboration with Jefferies LLC, is managing
the sale of 377 real estate assets, encompassing 44 owned and 333
leased properties, as part of the bankruptcy Chapter 11 filing of
99 Cents Only Stores LLC. Outside of
the real estate sales, Hilco Merchant Resources will be overseeing
the liquidation efforts, including the sale of all inventory and
fixtures.
Found in major cities like the Dallas-Fort Worth and Houston area, Phoenix, Las
Vegas and Los Angeles,
these properties lie in some of the respective area's most coveted
retail corridors. Among the highlights of this expansive portfolio
are several marquee properties situated along iconic thoroughfares
such as Westheimer Road and Broadway Street in Houston, Texas, Flamingo Road and Tropicana
Avenue in Las Vegas, Nevada, and
Sunset Boulevard and Pico Boulevard in Los Angeles, California. The complete list of
properties can be viewed on 99CentsRESales.com.
Known for their extensive array of products including groceries,
household goods, health and beauty products and more, 99 Cents Only Stores vary in size from 5,200±
square feet to 66,500± square feet. With an average size of 23,000±
square feet, the portfolio boasts prime retail space ideal for
reuse by a variety of similar or alternative users. While investors
and developers are encouraged to consider the ongoing grocery and
retail potential, there are compelling opportunities for
redevelopment as well. Notably, three sites feature vacant land
parcels, with a standout being an expansive 14± acre lot in
San Jacinto, California.
Surrounded by a mix of residential neighborhoods and commercial
districts, this specific location presents exciting prospects for
significant development endeavors at the city's most desirable
retail intersection.
Joel Schneider, senior vice
president at Hilco Real Estate, emphasized the importance of these
99 Cents Only Stores' locations,
stating, "HRE's announcement of these sales underscores the value
of these properties. We understand the significance of these
storefronts and encourage buyers to continue serving the community
as a one-stop-shop retail provider." He continued, "We invite
investors and developers to explore the compelling opportunities
they present whether retail use or redevelopment."
The sale is being conducted by Order of the U.S. Bankruptcy
Court for the District of Delaware. All bids must be submitted on the
approved asset purchase agreement available for review and download
from 99CentsRESales.com.
Interested buyers should review the bid procedures, available
on 99CentsRESales.com, outlining
the requirements to participate in the sale process.
For further details about the owned locations, please contact
Steve Madura, Joel Schneider and Michael Kneifel at
99CentsOwned@hilcoglobal.com and the Jefferies team
at 99CentsRE@Jefferies.com. For further details about the
leased locations, please contact Matt
Tabloff and Adam Humerick at
99CentsLeased@hilcoglobal.com and the Jefferies team at
99CentsRE@Jefferies.com. For further details about the on-going
sale of 99 Cents Only Stores'
inventory and fixtures, please contact Alex
McKeown at amckeown@hilcoglobal.com.
To learn more about the sale process and terms or to obtain
access to due diligence documents, please visit
99CentsRESales.com or call (855) 755-2300.
About Hilco Real Estate
Hilco Real Estate ("HRE"), a
Hilco Global company (HilcoGlobal.com), is headquartered in
Northbrook, Illinois (USA). HRE is
a national provider of strategic real estate disposition services.
Acting as an agent or principal, HRE uses its experience to advise
and execute strategies to assist clients in deriving the maximum
value from their real estate assets. By leveraging multi-faceted
sales strategies and techniques, aggressive repositioning and
restructuring experience, a vast and motivated network of buyers
and sellers, and substantial access to capital, HRE exceeds
expectations even in the most complex transactions.
About Jefferies
Jefferies (NYSE: JEF) is a leading
global, full-service investment banking and capital markets firm
that provides advisory, sales and trading, research, wealth, and
asset management services. With more than 40 offices around the
world, we offer insights and expertise to investors, companies and
governments. For more information: www.jefferies.com.
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SOURCE Hilco Real Estate