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Big-Box Disposition Not for the Weak at Heart

SEATTLE, WA-A local broker who represents struggling retailers in the disposition of excess properties and leaseholds during bankruptcy proceedings talks with GlobeSt.com about the big box surplus market.

By Janet Parker | Updated on May 12, 2002

SEATTLE, WA-There’s a surplus of surplus big-box properties on the market, says retail specialist Steve Ruggiero, owner of Poulsbo-based First American Properties. Ruggiero, who has represented retailers like Best Products and Ernst in the disposition of excess sites and leases in bankruptcy, says companies should expect a minimum of 12 to 24 months to put solutions in place.

“There is a heavy supply of surplus buildings (in Puget Sound),” says Ruggiero. “There’s interest in them, across the board, but some of these deals can be difficult to make.”

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