May 29, 2024 - B. Riley Real Estate, a subsidiary of B. Riley Financial (Nasdaq: RILY) ("B. Riley"), is pleased to have advised Dollar Tree in its acquisition of designation rights for 170 leases of 99 Cents Only Stores across Arizona, California, Nevada, and Texas.
The deal was completed via two transactions in May that were approved by the United States Bankruptcy Court for the District of Delaware. As part of the transactions, Dollar Tree also acquired the North American Intellectual Property of 99 Cents Only Stores and select on-site furniture, fixtures, and equipment.
In April, California-based 99 Cents Only Stores filed for Chapter 11 bankruptcy and subsequently initiated a process to dispose of its assets, including its inventory, owned real estate and store leases.
Dollar Tree is a Fortune 200 Company and operates over 16,000 stores across 48 states and five Canadian provinces. Stores operate under the brands of Dollar Tree, Family Dollar, and Dollar Tree Canada. To learn more about the Company, visit www.DollarTree.com.
B. Riley Real Estate specializes in restructuring, dispositions, financing, leasing, acquisitions, and development of commercial property for both public and private companies. Our experienced team of professionals help clients execute strategies to maximize real estate value for healthy and distressed assets across a broad range of sectors.
Read more about
the transaction here. For more
information, contact Chris Draper cdraper(at)brileyfin.com.
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