RCS Real Estate Advisors, retained as advisors in Eddie Bauer LLC’s bankruptcy proceedings, reported it is actively marketing 174 store leases, including 150 store locations across 40 U.S. states and 24 in Canada.
The available stores span more than 1.08 million square feet, averaging around 6,300 square feet, and include locations in malls, lifestyle centers and high-traffic retail corridors. RCS will oversee all marketing, lease assignments and related negotiations with Eddie Bauer and its advisor, subject to bankruptcy court approval.
“As part of the Chapter 11 process, we are focused on maximizing value and identifying opportunities for landlords, retailers and other users seeking quality retail space in proven trade areas,” said Ivan Friedman, president and CEO of RCS Real Estate Advisors. “This portfolio represents a rare opportunity to secure legacy retail locations in established centers nationwide. Our team is actively engaging the market to drive competitive interest and efficient lease dispositions.”
Under the bankruptcy reorganization plan, Eddie Bauer, LLC, the operator of Eddie Bauer’s North American stores, will conduct liquidation sales at those stores while continuing to pursue the sale of all or part of the business.
RCS is acting as Eddie Bauer’s adviser on all real estate matters. Should Eddie Bauer enter into a sale transaction as part of the process, RCS can negotiate potential portfolio-related modifications that may be required by buyers, including extensions, rent relief, rent holidays, and other restructuring measures.
Image courtesy RCS
