DJM Realty Will Handle Linens 'n Things Disposition
Melville, N.Y. DJM Realty, a Gordon Brothers Group Co., announced Monday that it has been retained to manage the national disposition of the remaining Linens 'n Things 371 retail store leases and three distribution centers.
Linens 'n Things operated 551 U.S. locations in the beginning of 2008. On May 2, it filed to reorganize under Chapter 11 and since then DJM Realty has been disposing of the retailer's real estate.
“Linens 'n Things has built a portfolio in markets that are very difficult to enter, which creates a real opportunity to retailers,” said Michael Gries, CEO of Linens 'n Things.
The Linens 'n Things portfolio include prime retail real estate locations in the Northeast including the 1-95 corridor from Long Island to Boston, the Western Coast of Florida including the panhandle, Northern and Southern California, several markets throughout Chicago and prime Southeast United States locations.
In addition to disposing of the retail locations, DJM Realty is marketing three Linens 'n Things distribution centers in New Jersey, North Carolina and Kentucky totaling 1.2 million sq. ft.