GA Group and A&G Real Estate Partners plan to auction 790 retail store leases and five distribution centers in conjunction with the wind-down of fabric and crafts retailer Joann Inc. following its January filing for Chapter 11 bankruptcy. The bid deadline is April 16 and the auction is expected to occur in New York on April 22.

The available leases cover a range of property types across 49 states, including freestanding stores, power centers, strip malls and urban retail corridors, ranging from 7,500 to 52,000 square feet. No fee-owned properties are available in the auction.

“This diverse portfolio offers strong real estate fundamentals, prime high-traffic locations, and turnkey spaces ready for immediate occupancy,” said Michael Jerbich of GA Group. “This auction offers business owners and investors a prime opportunity to expand their footprint and strengthen their local presence.”

GA Group was recognized in February as the successful bidder to serve as exclusive agent to monetize substantially all Joann’s assets.

MacKenzie Commercial Real Estate Services, LLC has brokered the sale of 5410 Indian Head Highway, a three-story, 22,800-square-foot office building in the Oxon Hill section of Prince George’s County, Maryland, for $2.3 million.

Former owner Indian Head Assets acquired the three-story building at auction earlier this summer and subsequently named MacKenzie Commercial the exclusive sales broker. David McClatchy, Senior Vice President and Principal, handled the assignment. Approximately 90 days after bringing the building to market, Harborview Properties closed on the sale of the 95 percent vacant asset.  

Harborview Properties is the commercial real estate arm of Harborview Dental Associates, a specialty-group dental practice which specializes in general dentistry, orthodontics, and oral and maxillofacial surgery. Indian Head Assets is a Baltimore. MD.-area partnership which invests exclusively in foreclosed commercial office, retail, and land properties.

Biscuit Flats Dev LLC, an affiliate of Mack Real Estate Group (MREG), prevailed at an auction to sell the development rights to over 2,300 acres of fully entitled land immediately adjacent to Taiwan Semiconductor Manufacturing Corporation’s (TSMC) semiconductor fabrication campus in Phoenix’s North Valley. TSMC has committed to investing $65 billion in its rapidly growing facilities, with significant further investment anticipated. 

The Arizona State Land Department (ASLD) awarded the project to Biscuit Flats Dev LLC, the winning bidder in an auction for the right to lead what is expected to be a $7+ billion mixed-use development of more than 28 million square feet surrounding one of America’s most potent new employment and innovation drivers, TSMC. McCourt Partners will also invest in the project in partnership with MREG. MREG paid $56.28 million as the winning and only bidder at the auction.

Under an agreement with ASLD, the partnership will control land sales within the site, which are to take place in stages over several years, while also overseeing the necessary infrastructure improvements.  Additionally, the joint venture will have the right to develop approximately 600 acres, across multiple uses.  MREG will decide what the best fit is on 2,300+ acres with over 28 million square feet of development capacity across mixed uses, including up to 8,960 residential units as well as industrial, retail, and office space. Infrastructure work could start in 2025.

Foxtrot’s assets were sold at auction Friday for more than $2.2 million, reported Crain’s. The buyer was holding company Further Point Enterprises. The auction was conducted by JPMorgan Chase Bank, a debtor of Foxtrot, through its counsel, DLA Piper. 

The sale of the assets follows the sudden move by Outfox Hospitality, the group that owned Foxtrot and small-format grocer Dom’s Kitchen & Market, to abruptly close all stores in multiple states last month. Chicago-based Foxtrot had 33 locations in Chicago, Washington, D.C., Dallas and Austin, while Dom’s had two stores in Chicago.

According to Crain’s, Foxtrot’s auctioned assets included goods, equipment, inventory, intellectual property, figures and more. Leases were not included. Assets belonging to Dom’s Kitchen and Market were also put up for bid but were not sold. The company is also facing several lawsuits from employees who allege the sudden closures did not provide the required 60-day notice under the Fair Notice Ordinance before jobs were terminated. 

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The Coliseum Theater in downtown Seattle, one of the city’s historic landmarks, is headed to auction.

The 36,904-square-foot retail building, which is listed on the National Register of Historic Places, is going up for auction next month, according to the Puget Sound Business Journal. Newmark has listed the property with a starting bid of $2 million, and Ten-X Commercial will be the auctioneer. The seller is a company based in Iowa that bought the property in 2007 for $13 million.

Located at 1508 5th Avenue, The Coliseum was originally built as a state-of-the-art cinema in 1916 and later became a Banana Republic store. The 16,200 square feet of leasable space is currently fully occupied by Actualize AiR, a gallery and event space, and an espresso coffee shop. The Coliseum is situated in the heart of downtown, close to Nordstrom’s flagship store, Pike Place Market, the Washington State Convention Center and Amazon’s world headquarters.

The owner of the Westin Tempe can’t make the loan payments, and unless something changes soon, it faces a foreclosure sale.

The Phoenix Business Journal reports the lender for the 290-room hotel near Seventh Street and Mill Avenue in downtown Tempe filed a notice of trustee sale earlier this week.

The notice said that the 18-story hotel opened in 2021 and will be auctioned off to the highest bidder on April 24 at the Arizona Superior Court building in downtown Phoenix.

The construction loan for the Westin Tempe was issued in 2019 by Dallas-based Hall Structured Finance to an entity connected to Las Vegas-based CAI Investments LLC for $86.5 million.

On Dec. 15, 2023, CAI missed a $5 million payment deadline, while also failing to pay its $600,000 modification fee and a $87,347 tax escrow payment, according to the notice of trustee sale.