Keen Realty to Market and Assist with Disposition of Off Main Furniture's Retail Leasehold Interests in Florida

Strategic Insights -

Keen Realty, LLC has been retained by Off Main Furniture, Inc. to market and assist with the disposition of the company's retail leasehold interests in Florida. The sale involves four prime retail sites, located in Coral Springs, Deerfield Beach, Palm Beach Gardens, and Wellington, with a total square footage of 9,200 to 25,345 sq. ft. Off Main Furniture operates in these locations, offering a wide selection of furniture that combines quality and value. The company filed for Chapter 11 protection on April 4, 2006, in the United States Bankruptcy Court for the Southern District of Florida. Keen Realty, a real estate consulting firm specializing in maximizing the value of its clients' real estate assets nationwide, will assist in the sale of these leases, which may be sold prior to the scheduled auction on July 19th.

Key Takeaways:

  • Keen Realty, LLC will assist Off Main Furniture, Inc. in marketing and selling four retail leasehold interests in Florida, covering 9,200 to 25,345 sq. ft.
  • The company has retained Keen Realty to facilitate the sale of these interests, citing the prime locations in Coral Springs, Deerfield Beach, Palm Beach Gardens, and Wellington, FL.
  • Off Main Furniture operates in these locations, offering a diverse selection of furniture that focuses on quality and value.
  • The sale is subject to Bankruptcy Court-approved bid procedures, with bids due on July 14th and an auction scheduled for July 19th.
  • Interested parties are encouraged to act immediately as the leases may be sold prior to the auction.
  • Keen Realty has extensive experience in solving complex problems, evaluating, and selling real estate, leases, and businesses, having consulted with hundreds of clients nationwide and disposed of over 18,400 properties totaling 1,723,300,000 sq. ft.
  • Recent clients of Keen Realty include Cornell Trading, Inc., Eddie Bauer/Spiegel, The LoveSac Corp., The Penn Traffic Company, Frank's Nursery and Crafts, Arthur Andersen, Warnaco, and JP Morgan Chase.

Statistics:

  • 4 prime retail sites are involved in the sale, located in Coral Springs, Deerfield Beach, Palm Beach Gardens, and Wellington, FL.
  • Total square footage of the retail leases for sale ranges from 9,200 sq. ft. to 25,345 sq. ft.
  • Bids must be submitted by July 14th to be considered in the sale process.
  • An auction for the leasehold interests is scheduled for July 19th.
  • Keen Realty has disposed of over 18,400 properties totaling 1,723,300,000 sq. ft. across the country.
  • The company has consulted with hundreds of clients nationwide, including notable clients such as Cornell Trading, Inc., Eddie Bauer/Spiegel, and JP Morgan Chase.

Sources:

  • Keen Realty, LLC press release (no date mentioned)
  • Off Main Furniture, Inc. filing in the United States Bankruptcy Court for the Southern District of Florida (April 4, 2006)