Weekly Real Estate News
Hilco Real Estate LLC and Jefferies LLC are managing the sale of the 377 real estate assets that are part of the bankruptcy Chapter 11 filing of 99 Cents Only Stores LLC.
The sale includes 44 owned and 333 leased properties across Arizona, California, Nevada and Texas. The 99 Cents Only Stores ranged from roughly 5,200 square feet to 66,500 square feet, with an average size of approximately 23,000 square feet.
All bids must be submitted on the approved asset purchase agreement available for review and download from 99CentsRESales.com. Joel Schneider, senior vice president at Hilco Real Estate, stated, “We understand the significance of these storefronts and encourage buyers to continue serving the community as a one-stop-shop retail provider. We invite investors and developers to explore the compelling opportunities they present whether retail use or redevelopment.”
Outside of the real estate sales, Hilco Merchant Resources will be overseeing the liquidation efforts, including the sale of all inventory and fixtures.
