TSL Express Daily News

In end of an era, 695 Party City leases in 44 states will go to auction pending court approval  
 
Stores remain open nationwide for going-out-of-business sales  

NEW YORK – January 3, 2025 – A&G Real Estate Partners, real estate advisor to Party City Holdco Inc. (“PCHI” or the “Company”), today announced plans to auction 695 Party City store leases as the nearly 40-year-old celebrations retailer begins to wind down its operations. Going-out-of-business sales are now underway at those retail locations. 
 
The bid deadline and auction likely will be in early February. 
 
“This is a large and diverse store portfolio, with good real estate and a great many stores located in high-traffic shopping centers,” said Emilio Amendola, Co-President of A&G and leader of the New York-based company’s real estate sales division. “This auction represents an extraordinary opportunity for expanding operators in what marks the end of an era in the retail industry.” 
 
“This offers operators the chance to open in turnkey spaces that are ready for immediate occupancy with favorable lease terms in both suburban and urban retail markets,” added Andy Graiser, Co-President of A&G. 
 
With box sizes that range from approximately 7,000 to 46,000 square feet, the stores are a fit for a wide array of potential users. “You’ve got a number of strong candidates for this real estate,” said Mike Matlat, A&G Senior Managing Director. “The list includes gyms and entertainment tenants, dollar stores, local specialty retailers, furniture stores, and medical office clinics.” 
 
The leases are for freestanding stores as well as those located in power centers, strips, and city street locations; no fee-owned properties are available in the auction.  
 
Alaska (1) 
Alabama (10) 
Arkansas (1) 
Arizona (15) 
California (82) 
Colorado (13) 
Connecticut (12) 
Delaware (2) 
Florida (59) 
Georgia (27) 
Iowa (6) 
Illinois (37) 
Indiana (16) 
Kansas (3) 
Kentucky (7) 
Louisiana (7) 
Massachusetts (20) 
Maryland (20) 
Maine (2) 
Michigan (20) 
Minnesota (10) 
Missouri (12) 
Mississippi (1) 
North Carolina (21) 
North Dakota (4) 
Nebraska (3) 
New Hampshire (3) 
New Jersey (26) 
New Mexico (3) 
Nevada (5) 
New York (46) 
Ohio (23) 
Oklahoma (6) 
Oregon (2) 
Pennsylvania (25) 
Rhode Island (2) 
South Carolina (10) 
Tennessee (14) 
Texas (72) 
Virginia (19) 
Vermont (1) 
Washington (16) 
Wisconsin (10) 
West Virginia (1) 
 
The auction will take place at the Manhattan office of PCHI legal counsel Paul, Weiss, Rifkind, Wharton & Garrison LLP, located at 1285 Avenue of the Americas. 
 
To accomplish an orderly wind down in the most efficient manner and to maximize value for the benefit of the Company’s stakeholders, PCHI and certain of its subsidiaries voluntarily filed Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas on December 21, 2024. The Company cited “an immensely challenging environment driven by inflationary pressures on costs and consumer spending, among other factors.” 
 
PCHI is retaining more than 95% of its 12,000 employees for some time to assist with the wind down process. During the going out of business sales, shoppers at Party City stores will be able to take advantage of deals and deep discounts on merchandise while supplies last.  
 
For additional details, including bid procedures as well as remaining lease terms for individual locations, contact A&G Co-President Emilio Amendola, (631) 465-9507, emilio@agrep.com, A&G Senior Managing Director Mike Matlat, (631) 465-9508, mike@agrep.com, or A&G Senior Managing Director Doug Greenspan, (310) 770-7832, doug@agrep.com. 
 
The full store list is available here: 
https://www.agrep.com/index.php/partycity 
 
                                                                              #### 
Media Contact: At Jaffe Communications, Elisa Krantz, (908) 789-0700, elisa@jaffecom.com