### Auction Announced for 790 Joann Store Leases and Five Distribution Centers
GA Group and A&G Real Estate Partners have announced an auction of 790 retail store leases and five distribution centers as part of the wind-down process for fabric and crafts retailer Joann Inc. This follows Joann’s Chapter 11 bankruptcy filing in January. The bid deadline is set for April 16, with the auction scheduled to take place in New York on April 22.
The available leases encompass various property types across 49 states, including freestanding stores, power centers, strip malls, and urban retail corridors. The store spaces range from 7,500 to 52,000 square feet. However, no fee-owned properties will be included in the auction.
“This diverse portfolio offers strong real estate fundamentals, prime high-traffic locations, and turnkey spaces ready for immediate occupancy,” said Michael Jerbich of GA Group. “This auction presents business owners and investors with a great opportunity to expand their footprint and strengthen their local presence.”
In February, GA Group was designated as the successful bidder to serve as the exclusive agent for monetizing Joann’s assets.
