A&G completes bankruptcy sale of Stage Stores’ distribution center and real estate assets
MELVILLE, NY — A&G Real Estate Partners announced that it has completed bankruptcy court-approved sales of Stage Stores, Inc.’s Jacksonville, Texas distribution center and two other properties to two buyers. The Melville, NY based A&G has been serving as real estate advisor for the Houston-headquartered retailer, which operated 738 conventional department stores and off-price stores under multiple brands at the time it filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in May 2020. The company has since liquidated all stores. In the largest transaction, Bradenton, FL-based Bealls Inc. acquired the fee interest for Stage’s 435,196 s/f distribution center in Jacksonville, which sits on a 42.51-acre parcel that includes undeveloped land for expansion. The facility was built in 1985 and has undergone multiple rounds of modernization to accommodate brick-and-mortar and e-commerce fulfillment. Apart from the real estate, Bealls’ winning $7.0 million bid included the facility’s machinery and equipment, and the company’s intellectual property. A&G also sold two other sites owned by Stage Stores: an income producing industrial RTV (return to vendor ) center in Jacksonville and a retail site in Logan, West VA. Both were acquired by Jetall Companies, Inc., a real estate investment and management firm out of Houston. Located on 6.45 acres, the 125,232 s/f RTV center is currently partially occupied by a single tenant. The 24,332 s/fretail property is a single-level former Peebles store on Stratton Street in downtown Logan.