GA Keen to Market Pierre Deux Locations

August 11, 2011  by in UnCategorized   

By Home Furnishings Business in Bankruptcy on August 12, 2011

GA Keen Realty Advisors will assist in the marketing and disposition of 22 leased properties and two warehouse locations formerly operated by Pierre Deux.

A retail chain of French furnishing stores that operated across 13 states, Pierre Deux ceased business operations and filed for Chapter 7 bankruptcy protection on June 23. The former Pierre Deux sites are located in several states including California, Colorado, Connecticut, Georgia, Illinois, Maryland, Massachusetts, New Jersey, New York, North Carolina, Pennsylvania, Texas and Virginia.

"All of the properties are in great locations, and at a range of 1,600 to 5,000 square feet in size, we expect these sites to attract a great deal of interest from retailers," said Matthew Bordwin, co-president of GA Keen Realty Advisors, Woodland Hills, Calif., a division of Great American Group. "While we expect there will be more interest in the spaces from furniture and apparel retailers, the sizes of the properties may appeal to other potential tenants beyond these retail segments."

GA Keen also will market two of Pierre Deux former warehouse properties located in Secaucus, N.J.--an 18,810-square-foot warehouse at 180 Seaview Dr.; and a 38,720-square-foot property at 40 Enterprise Ave., where the lease allows for operation of a 2,700-square-foot warehouse outlet.  GA Keen is working in conjunction with Great American Group, which is conducting going-out-of-business sales at each of the retail sites.

A bid deadline has been set for August 24 with an auction to be held on August 26.