H
ilco Real Estate, LLC (HRE) announces the successful sale of real estate assets within the Chapter 11 bankruptcy case of 99 Cents Only Stores, LLC (99 Cents). The company, a prominent discount retailer with 41 owned retail locations and 333 leased stores across four states, was forced into liquidation due to rising competition, increased labor costs, and logistical challenges exacerbated by the COVID-19 pandemic.

    HRE was engaged by 99 Cents to run a coordinated monetization process for its real estate assets. With only 45 days to develop and execute a targeted marketing strategy, HRE attracted significant interest from prospective buyers nationwide through direct outreach, print and digital marketing campaigns. Over 360 Indications of Interest were submitted, leading to 181 Asset Purchase Agreements received with non-refundable earnest money deposits.

    The campaign culminated in a highly competitive virtual auction that drew bids from qualified investors, including a major national discount retailer and local end-users. Following the auction, all property closings were completed within an average of just 30 days. The sale resulted in over $168 million in proceeds generated in a rapid 75-day turnaround, exceeding client expectations.

    "This portfolio sale represents more than just a successful transaction—it's a fresh start for these properties and the communities they serve," said Joel Schneider, senior vice president at Hilco Real Estate. "By transitioning into new retail spaces or innovative redevelopment projects, these sites have the potential to enhance the economic fabric of their neighborhoods."

    Hilco Consumer – Retail expertly handled the going-out-of-business sales for the inventory, fixtures, furniture, and equipment, achieving a total of $245 million recovered and ensuring the properties were sale-ready. For more information about this sale or to inquire about other opportunities, please visit HilcoRealEstate.com or call (855) 755-2300.

    Hilco Real Estate is a national provider of strategic real estate disposition services, headquartered in Northbrook, Illinois. The company uses its experience to advise and execute strategies to assist clients in deriving the maximum value from their real estate assets.