DJM Asset Management to Market All Workbench Furniture Stores Locations

Furniture World Magazine

DJM Asset Management, LLC today announced that it has been retained as real estate advisor to dispose of leases for Workbench Furniture which filed for protection under Chapter 11 of the U.S. Bankruptcy Code. With this filing, WORKBENCH FURNITURE has commenced a process to sell and/or close 27 retail locations located throughout New York, New Jersey, Connecticut, Maryland, Massachusetts, Michigan, North Carolina, Pennsylvania and Virginia. Also being made available are their two warehouses located in Raleigh, NC and Bayone, NJ. All of the real estate available are leasehold interests in those properties with all locations scheduled to be made available no earlier than October 15, 2003 and no later than December 1, 2003. "The locations that we are marketing include properties of between 1,920 s.f. to 24,632 s.f. in central business districts, free standing buildings and strip center locations," said Emilio Amendola, Principal of DJM. "Much of the attention will be focused on the 470 Park Avenue South store in Manhattan, NY which is a high-profile location with a long lease term and below-market rent. Other impact stores include Greenwich, CT, Carle Place, NY, Paramus, NJ and Natick, MA. These are locations with below-market lease terms and already generating a lot of interest. We welcome any and all inquiries." To obtain information on specific Workbench Furniture locations contact James Avallone or Benjamin Gould at 631-752-1100. Detailed lease information on all properties, demographics and other information is available on DJM's web site at http://www.djmasset.com. About DJM Asset Management, LLC Based in Melville, New York, DJM Asset Management, LLC, assists retailers nationwide with the disposition of unwanted locations, leasehold evaluations and lease mitigation. DJM has been retained by over 100 different retailers and has handled more than 10,000 locations nationwide.