Heilig-Meyers Auctioning Remaining Leaseholds

PORTLAND-Bid deadlines are nearing for assuming leaseholds for hundreds of Heilig-Meyers furniture locations nationwide, include five stores and a distribution center in Northwest Oregon. The major disposition by the nation’s largest retailer of home furnishings and related items follows 400 store closures announced in August following its filing for protection under Chapter 11 of the U.S. bankruptcy Code.

Richmond, VA-based Heilig-Meyers has appointed a joint venture of DJM Asset Management, LLC and Trammell Crow Co. as its agent to manage the disposition of the properties. All told, Trammell Crow and DJM are marketing 29 fee owned properties and 271 leaseholds in freestanding and strip center stores in 26 states, ranging in size from 9,000 to 60,000 square feet, and two distribution centers.