Big Lots Leases for Sale in 47 States
Retail focus investment firm Gordon Brothers has revealed that it is offering Big Lots leases for sale nationwide.
Just last week, Gordon Brothers completed the purchase of the U.S. closeout retailer. The purchase enables the transfer of Big Lots’ assets, including its stores, distribution centers and intellectual property, to other retailers and companies.
Speaking on the leases for sale, Michael Burden, co-head of North America real estate services at Boston-based Gordon Brothers, said: “This is a fantastic opportunity for expansion-minded retailers to grow their footprint by acquiring well-located stores with long-term, below-market rents. These spaces offer a seamless path to enhance their presence and serve new communities, making it an ideal time to capitalize on prime retail real estate.”
The new-to-market stores are primarily located in shopping centers across 47 states and range in size from approximately 19,000 to 55,000 square feet.
All offers for individual or multiple location purchases are due no later than Jan. 24. Additional details, including lease terms, can be found at info.gordonbrothers.com/biglotsrealestate.
Since Big Lots' bankruptcy in September, rival discounter Ollie’s Bargain Outlet Holdings Inc. has acquired approximately 20 Big Lots store leases as a result of the initial bankruptcy sale process.
As of last year, Columbus, Ohio-based Big Lots Inc. operated 1,000-plus stores in 48 states, as well as an e-commerce platform with fulfillment and delivery capabilities. The company came in at No. 59 on The PG 100, Progressive Grocer’s 2024 list of the top food and consumables retailers in North America.
