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Kim_Gatley
Kim Gatley
S
enior Vice President & Director of Research at REOC San Antonio

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Sports Authority’s leases in San Antonio included in nationwide bankruptcy auction

bank vaultSporting goods retailer Sports Authority has filed Chapter 11 bankruptcy protection, and will move forward with plans to auction off 87 of its leases, including two in San Antonio.

Saddled with debt and unable to step up to competing retailers, a bankruptcy auction is in the works for the store’s leases across the country.

The Englewood, Colorado-based retailer also plans to close 140 locations and two of its distribution centers. Sports Authority operates more than 463 stores in 41 states.

Here in San Antonio, the retailer currently has two active leases. One is located at 21115 U.S. Highway 281 North next to the H-E-B Plus! at Evans Road. The retailer’s lease for the 42,057-square-foot space is set to expire Jan. 31, 2020, and it pays $17.50 per square foot. Its second location is in the La Plaza Del Norte retail center at 125 NW Loop 410. The 65,017-square-foot space rents for $12.61 per square foot, and Sports Authority’s lease will run until Jan. 31, 2017.

New York-based A&G Realty Partners is marketing the leases included in the auction.

According to a statement the company released this morning, all stores will remain open and operate on a normal schedule.

The retailer’s store-closing process will take about three months.

Click to read entire article: Sports Authority’s leases in San Antonio included in nationwide bankruptcy auction (San Antonio Business Journal, 03-02-16)

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