OHIO — Gordon Brothers, a global asset management firm, has announced the sale of Big Lots store leases across the country, including multiple locations in Ohio.
The available leases include stores in cities such as Cleveland, Columbus, Findlay, Lima, Delaware, Youngstown, and more. These locations are part of a broader effort to offload Big Lots leases in shopping centers across 47 states.
This essentially means that the new owners do not plan to keep these storefronts moving forward.
Big Lots is undergoing a partial restructuring through a deal with Gordon Brothers Retail Partners and Variety Wholesalers, Inc., which will keep between 200 and 400 stores open. However, several Ohio locations appear to be closing as their leases are being sold rather than retained under the agreement.
“This is a fantastic opportunity for expansion-minded retailers to grow their footprint by acquiring well-located stores with long-term, below-market rents,” said Michael Burden, Co-Head of North America Real Estate Services at Gordon Brothers.
“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 stores range in size from approximately 19,000 to 55,000 square feet. All offers for these properties must be submitted by January 24.
For additional information about the leases, visit info.gordonbrothers.com/biglotsrealestate.
