Hilco Consumer-Retail said Wednesday it will manage store closings for American Freight, which is shuttering all 328 of its locations nationwide. The closings occur as part of the Chapter 11 bankruptcy filing of Franchise Group, Inc. (FRG), the parent of American Freight, which said the decision to wind down the furniture and appliance retailer was due to “sustained inflation and macroeconomic challenges facing the large durable goods sector.” 

FRG undertook the Chapter 11 filing at U.S. Bankruptcy Court in Delaware in part to position its strongest brands—Pet Supplies Plus, The Vitamin Shoppe and Buddy’s Home Furnishings—for continued growth. Franchise operations of the three brands are not part of the filing.  

“Each of these businesses has a demonstrated value proposition and provides great products and services to customers, which they will continue to do seamlessly during this process,” said Andrew Laurence, FRG’s president and CEO. “Strengthening FRG’s balance sheet will allow us to enhance our support for these businesses as they advance their growth trajectories.” 

Sunrise Senior Living has added Battery Park, an independent living high-rise in Lower Manhattan, to its management portfolio. Located at 455 North End Ave., near One World Trade Center, the 217-unit facility is the third luxury property in Manhattan for Sunrise and is owned by healthcare REIT Ventas Inc.

“Sunrise is honored to be selected by Ventas as the new manager for this iconic, luxury independent living community, which will be specially tailored for Manhattan residents intentionally seeking out our vibrant and preferred lifestyle for enjoying longer, healthier, happier lives,” said Jack R. Callison, Jr, CEO at Sunrise.

As Sunrise assumes management, it will seek to enhance the community to benefit its current and future residents, as well as team members. The community will undergo extensive renovations to its infrastructure and common areas. Planned investments include the complete modernization of the HVAC and main building systems, aiming for greater efficiency and sustainability to meet LEED building standards.

Friedman Real Estate has been selected to partner with Wayne County’s Facilities Management and Planning division to manage the county’s new 1.2 million square foot Criminal Justice Center (CJC).

The property is comprised of an adult detention center with 2,280 beds, a juvenile detention center with 160 beds, 29 criminal courtrooms, and administrative offices. Approximately 1,300 county employees will work at the CJC, with roughly 1,000 visitors expected at the property each day. Friedman was chosen for the assignment due to the firm’s experience managing large campuses and office buildings, particularly those with government and judicial tenants.

Friedman’s Kim Farmer will oversee the management operation at CJC, and she has long-standing relationships with many Detroit-area service vendors. “As the CJC prepares for its imminent opening, Friedman is committed to delivering exceptional property management services, fostering collaboration with all stakeholders, and ensuring the facility’s long-term success,” said David Friedman.

Connect Industrial Midwest 2024 will take place on March 5, 2024, at Joe’s Live in Rosemont, Illinois. Click here for more information and to register.

Lincoln Property Company Southeast has been selected to manage Brown Thrasher Logistics Center, a Class-A industrial complex in Richmond Hill, GA outside of Savannah. Lincoln Senior Vice President Shane Froman, Senior Portfolio Manager Industrial Lead Kim Steward and Senior Portfolio Manager Natalie Matteson will oversee property management on behalf of the owner, Stonemont Financial Group.

Brown Thrasher Logistics Center is located within the Belfast Commerce Park off of Belfast Keller Road in Richmond Hill, just over a mile from I-95. The property offers 281,067 square feet of industrial warehouse space, with 40-foot clear heights, rear-load configuration, 238 trailer parking spaces and 213 auto parking spaces. The project broke ground in early 2022, and construction was completed this year.

The rail-served Belfast Commerce Park offers a premier location on 1,000 acres just 30 miles from the Port of Savannah and 20 miles from I-16.