SOURCE: Great American Group, Inc.

Great American Group, Inc.

August 10, 2011 13:33 ET

GA Keen Realty Advisors Selected to Market Pierre Deux Retail Sites, Warehouses

WOODLAND HILLS, CA--(Marketwire - Aug 10, 2011) - GA Keen Realty Advisors, a division of Great American Group Inc. (OTCBB: GAMR), a leading provider of asset disposition, valuation and appraisal services, has been retained to 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 of this year.

"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. "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 be marketing two of Pierre Deux former warehouse properties located in Secaucus, New Jersey -- an 18,810-square-foot warehouse at 180 Seaview Dr. and a 38,720-square-foot property at 40 Enterprise Avenue, where the lease allows for operation of a 2,700-square-foot warehouse outlet. GA Keen is working in conjunction with Great American Group, LLC who is conducting going-out-of-business sales at each of the retail sites.

Bordwin adds that any interested parties should move quickly, since a bid deadline has been set for August 24 with an auction to be held on August 26.

GA Keen Realty Advisors specializes in the sale of real estate and enterprises, lease renegotiations and restructurings and strategic planning and valuation services for retailers as well as other property owners, tenants and investors. It also provides real estate investment banking, debt restructuring and receivership and other fiduciary services.

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.

Pierre Le Vec and Pierre Moulin opened the company's first shop in Greenwich Village in 1967, promoting French art de vivre and the French country way to America. Pierre Deux imported antique furniture from the provinces and sold signature curtains, pillows and fabrics to accent the furniture. The tradition continued under new owners Hedwige Cointreau de Bouteville, the President and Creative Director of Pierre Deux, and her husband André Cointreau, President of Le Cordon Bleu Culinary School.

Prior to its June bankruptcy filing, Pierre Deux had previously reorganized under Chapter 11 in New York in 2002.

For more information about the former Pierre Deux properties, contact GA Keen Realty Advisors at (646) 381-9222 or via email at cmahoney@greatamerican.com. All transactions are subject to bankruptcy court approval.

About Great American Group
Great American Group, LLC, is a leading provider of asset disposition solutions and valuation and appraisal services to a wide range of retail, wholesale and industrial clients, as well as lenders, capital providers, private equity investors and professional service firms. Great American Group has offices in Atlanta, Boston, Chicago, Dallas, London, Los Angeles, New York and San Francisco. For more information, contact (818) 884-3737 or visit www.greatamerican.com.

Great American Group and the Eagle Design are trademarks registered in the US Patent and Trademark Office and are exclusive property of Great American Group, L.L.C.

GAMR-G

Contact Information

  • Media Contacts:

    Great American Group
    Laura Drummond
    Vice President of Marketing
    847-444-1400 ext. 2312
    Email Contact

    Ron Whittington
    Mulberry Marketing Communications
    904-355-8680
    Email Contact