Texas Distribution Center Offered By A&G in Stage Stores Bankruptcy
Aug 4, 2020
MELVILLE, N.Y., Aug. 4, 2020 /PRNewswire/ -- In its capacity as real estate advisor for Stage Stores, Inc., A&G Real Estate Partners is now accepting bids on the retailer's Jacksonville, Texas distribution center and two other properties. The Houston-based chain filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in May 2020.
A&G is marketing the fee interest for the 435,196-square-foot facility, located at 506 Beall Blvd. in the Cherokee County municipality. Situated on a 42.51-acre parcel that includes undeveloped land for expansion, the distribution center was built in 1985 and has undergone multiple rounds of modernization to accommodate brick-and-mortar and e-commerce fulfillment.
"This strategically located, state-of-the-art property offers an excellent turnkey opportunity for retailers and other companies seeking to enhance their footprint for direct-to-consumer and/or brick-and-mortar fulfillment," said Mike Matlat, Senior Managing Director at Melville, N.Y.-based A&G. "The site is also highly attractive to investors looking to capitalize on the booming warehouse/distribution real estate market in this key Sunbelt state."
The single-level, climate-controlled building includes a mezzanine, 32 dock doors, and clear heights ranging from 32 feet to 38 feet. The site provides ample space for trailer parking and staging (approximately 150 trailer spaces excluding the overflow area), 350 employee parking spaces, and includes undeveloped land for expansion. Located on the future I-69 route and off the I-20 corridor, Jacksonville draws from a skilled, working-age population of 130,000 within a one-hour drive.
"The Jacksonville site is being offered on a turnkey basis but can also be repurposed to meet a buyer's specific requirements," said Matlat. "It comes equipped with a high-speed 'pouch' sortation system that is ideal for SKU-level order fulfillment, a hang sorter and a tilt sorter–both configured to handle over 500 drop locations, along with high-speed conveyors, extensive material handling equipment, and high-bay racking."
The building supplied as many as 540 stores and processed 64 million merchandise units in 2019, representing a blend of apparel, shoes, home, and beauty products. The pouch sortation system handled upwards of 80,000 units each day during holiday peak.
A&G is also offering two other properties owned by Stage Stores: an income producing industrial RTV (return to vendor) center in Jacksonville and a retail site in Logan, West Virginia. Located on 6.45 acres at 1020 Willowcreek Dr., the 125,232-square-foot RTV center is 27% occupied by a single tenant paying rent of $245,000 annually. The retail property is a freestanding, 24,332-square-foot, single-level building set on 0.28 acres at 321 Stratton St. in Logan.
For further information on the three properties, contact: Mike Matlat, 631-465-9508, [email protected]; or Jamie Cote, 312-203-6321, [email protected]. Additional information can be found at www.agrep.com
About A&G Real Estate Partners
A&G is a team of seasoned commercial real estate professionals and subject matter experts that delivers strategies designed to yield the highest possible value for clients' real estate. Key areas of expertise include real estate due diligence, valuations, dispositions, lease restructurings, acquisitions, structured real estate sales, and facilitation of growth opportunities. Utilizing its marketing knowledge, reputation and advanced technology, A&G has advised the nation's most prominent retailers and corporations in both healthy and distressed situations. The firm's team has achieved rent-reduction and occupancy-cost savings approaching $6 billion on behalf of clients in every real estate sector, while selling more than $12 billion of non-core properties and leases. Founded in 2012, A&G is headquartered in Melville, N.Y. and also has an office in Chicago. For more information, please visit: http://www.agrep.com/
Media Contacts: At Jaffe Communications, Bill Parness, (732) 673-6852, [email protected] , or Elisa Krantz, (908)-789-0700, [email protected]
SOURCE A&G Real Estate Partners
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