GA Keen Realty Advisors to Market Former Metropark Sites
GA Keen Realty Advisors has been retained to assist in the marketing and disposition of 70 leased properties across 21 states operated by Metropark—a high-end clothing company that filed for bankruptcy this month.
Metropark is a Los Angeles-based retailer of premium denim and other types of clothing as well as accessories. Once it filed for Chapter 11 bankruptcy protection, the retailer was forced to close all of its properties nationwide.
The retail properties located throughout the country range in size from 2,000 square feet to 3,500 square feet. The majority of the stores are in the Western part of the nation, such as California, Arizona, Colorado, Nevada and Texas. States on the East Coast that have the store include 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 upfront costs on build-out.”
The purpose of hiring the asset disposition, valuation and appraisal services company is for them to handle the selling of the real estate enterprise, lease renegotiations and restructurings for the former property sites.
An auction will take place on May 26 for any buyers interested in acquiring any of the 70 properties.