Storehouse, Inc. has retained Keen Realty, LLC, To Auction 68 Retail Leases

Furniture World Magazine

Storehouse, Inc. has retained Keen Realty, LLC, subject to Bankruptcy Court approval, to market and assist with the disposition of the company’s retail leasehold interests located in AL, DC, DE, FL (7), GA (8), LA, MD (9), MI, NC (5), NJ (5), OK, PA (3), SC, TN (3), TX (12), and VA (9). Storehouse, a national furniture retailer, operates 68 retail sites throughout the country. The company filed for Chapter 11 protection on September 18, 2006 in the United States Bankruptcy Court for the Eastern District of Virginia. Keen Realty, LLC is a real estate consulting firm specializing in maximizing the value of its clients’ real estate assets nationwide. “We are excited to offer these leases for sale, as they are located in premier centers and locations throughout the country. Many of the leases are located in such major markets as Washington DC (16), Atlanta (7), Dallas (5), Houston (6), Philadelphia (10), and Charlotte (3)” said Mike Matlat, Keen Realty’s Vice President. “Bids must be submitted in accordance with bid procedures, subject to Bankruptcy Court approval, no later than November 13th. An auction is scheduled for November 14th. Interested parties are encouraged to act immediately, as the leases may be sold prior to the auction,” Matlat added. The locations range in size from approximately 4,800 sq. ft. – 16,750 sq. ft. Three warehouse leases and one office-headquarters lease are also available. The auction will be held at the office of Wiley Rein & Fielding, Attorneys for the Debtors and Debtors-in-Possession, 1776 K Street NW, Washington, DC 20006. For over 24 years, Keen Consultants has had extensive experience solving complex problems and evaluating and selling real estate, leases and businesses. Keen Realty, a leader in identifying strategic investors and partners for businesses, has consulted with hundreds of clients nationwide, and evaluated and disposed of more than 18,400 properties consisting of approximately 1,723,300,000 sq. ft. across the country. Recent clients include: Cornell Trading, Inc. d/b/a April Cornell, Eddie Bauer/Spiegel, The LoveSac Corp., Copeland Sports, The Penn Traffic Company, Frank’s Nursery and Crafts, Arthur Andersen, Warnaco, and JP Morgan Chase. For more information regarding the disposition of these leaseholds for Storehouse, Inc., please contact Keen Realty, LLC, 60 Cutter Mill Road, Suite 214, Great Neck, NY 11021, Telephone: 516-482-2700, Fax: 516-482-5764, e-mail: mmatlat@keenconsultants.com Attn: Mike Matlat.