A&G Realty to market 68 RadioShack locations in NYC
Electronics giant filed for Chapter 11
A&G Realty Partners will be managing the sale of RadioShack’s retail store leases and warehouses in the wake of the company’s Chapter 11 bankruptcy filing.
In New York, 68 store leases are up for grabs, according to a spokesperson for A&G, a commercial real estate firm that specializes in real estate dispositions, lease restructurings, facilitating growth opportunities, valuations and acquisitions. Manhattan is home to 25 of these stores.
The leases — spread across the city’s major retail markets, such as Los Angeles, Chicago, New York and Miami — range from 1,200 square feet to 5,300 square feet. All in all, RadioShack plans to close at least 1,784 stores by March 31, in three waves.
“(RadioShack) has done a great job with their real estate and are well positioned in key retail street, strip and mall locations,” A&G Co-President Andy Graiser said in a press release. “By taking assignment of leases, retailers have the opportunity to enter new markets and gain access to projects they may have previously been unable to penetrate. The availability of these leases is expected to attract interest from many national and local retailers.” — Claire Moses