Circuit City Taps Gordon Bros. Unit To Sell Off Real Estate
By Alan Wolf -- TWICE, 2/3/2009
MELVILLE, N.Y. — Circuit City has retained DJM Realty, here, to manage the disposition of all of its remaining real estate in the United States.
The company, a division of Gordon Brothers Group, will market the leases for 578 Circuit City stores and 17 office and distribution centers in 46 states, subject to bankruptcy court approval. DJM will also seek buyers for 13 Circuit City-owned properties including five stores, one service center and seven parcels of land.
DJM co-presidents Andy Graiser and Emilio Amendola said the real estate is generating interest among national and regional retailers and supermarket chains, and could provide an entrée into hard-to-crack markets like California and the Dallas, Houston and New York metro areas.
Property details will be available at www.djmrealty.com and bids will be due by March 12.
DJM’s past bankruptcy clients include Bombay, Goody’s, KB Toys, Kmart, Linens ‘n Things, The Sharper Image, Whitehall Jewelers, The Wiz, and Winn-Dixie.
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