Last updated on September 13th, 2022
A&G Real Estate Partners (AGREP) and Hilco Streambank have been engaged by Asheville, North Carolina-based Earth Fare to market and sell all Earth Fare stores and leases, and its intellectual property, respectively. Earth Fare, the natural and organic grocer, announced liquidation sales at all of its stores on Feb. 3, and filed for Chapter 11 of the United States Bankruptcy Code in the District of Delaware on Feb. 4.
Regarding the sale of Earth Fare’s store leases: “Interested parties should contact AGREP immediately, as liquidation sales are expected to conclude no later than Feb. 29, 2020,” said Emilio Amendola, co-president of AGREP. “The stores, most of which are about 25,000 s.f. (range in size from 17,000 to 38,000 s.f.), generally have long lease term available with options. We anticipate strong interest among well-capitalized grocers with forward-looking business models.”
Joseph McKeska, AGREP senior managing director and a 28-year veteran of the grocery retail sector, said, “Many of these stores are in great shape, with nice interiors and fixtures that are typical of the specialty organic category. The opportunity to acquire fully fixtured, very young or recently renovated properties is not available very often and gives buyers a fantastic opportunity to enter a turnkey location and be up and running with very little down time.”
Included in the sale are stores in Alabama—Auburn and Huntsville; Florida—Boynton Beach, Bradenton, Deland, Gainesville, Jacksonville (two), Lady Lake, Lutz, Ocala, Oldsmar, Orlando (two), Palm Beach Gardens, Rockledge, Saint Johns, Seminole and Tallahassee; Georgia—Athens, Cumming and Martinez; Indiana—Carmel, Fort Wayne, Indianapolis and Noblesville; Michigan—Portage; North Carolina—Asheville (two), Boone, Charlotte (three), Concord, Greensboro, High Point, Huntersville, Morrisville (two) and Wilmington; Ohio—Canton, Fairlawn and Fairview Park; South Carolina—Charleston, Columbia, Fort Mill, Greenville, Rock Hill and Summerville; Tennessee—Chattanooga, Hixson, Johnson City and Knoxville (two); Virginia—Fairfax, Roanoke and Williamsburg; and the corporate office, in Fletcher, North Carolina.
For more information on the available leases, click here or contact Emilio Amendola, [email protected], (631) 420-0044, or Joe McKeska, [email protected], (312) 454-4522.
Regarding the sale of Earth Fare’s intellectual property assets: Earth Fare’s intellectual property assets include its trademarks, customer data, domain names, social media assets and recipes, all of which are for sale.
“The brand has a rich history in the health and wellness retail market, and is well known for holding food manufacturers to the highest standards,” said David Peress, EVP of Hilco Streambank. “The Earth Fare brand aligns with the values of today’s consumer. It offered locally sourced meats and produce in the early 1980s and has been at the forefront of offering its customers products without such ingredients as artificial sweeteners and high fructose corn syrup.”
Parties interested in acquiring the Earth Fare intellectual property assets or learning more about the sale process should contact Hilco Streambank directly.
