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Hancock Retains Keen for Dispositions

GREAT NECK, NY–The real-estate disposition firm is marketing 121 units for the retailer, which filed for bankruptcy in March.

By Debra Hazel | Updated on April 18, 2007

GREAT NECK, NY–Some fairly big boxes soon will be available for purchase, as Hancock Fabrics has retained Keen Realty, LLC to market and assist with the disposition of two fee-owned retail properties and 121 of the company’s retail leasehold interests located nationally

Baldwyn, MS-based Hancock, which filed for Chapter 11 protection on March 21, retained Great Neck, NY-based Keen at the order of the US Bankruptcy Court. Prior to the filing, the chain had announced it would close a total of 134 stores nationwide, leaving Hancock with approximately 270 units. It currently operates retail fabric stores in 39 states across the United States.

“We are very excited to offer these leases and fee-properties for sale. The leases include favorable rental rates, and many of these stores are located in prime shopping centers throughout the country,” said Matthew Bordwin, executive vp of Keen Realty, in a press release announcing the assignment. The real estate consulting firm specializes in valuing, marketing and disposing of real estate assets.

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