GA Group and A&G Real Estate Partners announced plans to auction 790 retail store leases and five distribution centers in conjunction with the wind down of operations of fabric and crafts retailer, JOANN, Inc. following its filing for Chapter 11 bankruptcy on January 15, 2025.
 
The bid deadline for JOANN store leases and properties is April 16, 2025 and the auction is expected to take place in New York on April 22, 2025.
 
The available leases cover a range of property types across 49 states, including freestanding stores, power centers, strip malls, and urban retail corridors, ranging from 7,500 to 52,000 square feet. No fee-owned properties are available in the auction.
 
“This diverse portfolio offers strong real estate fundamentals, prime high-traffic locations, and turnkey spaces ready for immediate occupancy,” said Michael Jerbich of GA Group. “This auction offers business owners and investors a prime opportunity to expand their footprint and strengthen their local presence.”
 
“The auction of JOANN’s store leases presents a unique chance to transform well-located retail spaces into thriving businesses,” said Emilio Amendola, Co-President of A&G. “From specialty retail and fitness centers to healthcare clinics and entertainment venues, these properties offer limitless potential. For small business owners and startups, this is an opportunity to lock in prime locations at competitive rates—helping them grow, innovate, and revitalize local economies.”  
 
GA Group was recognized as the successful bidder to serve as exclusive agent to monetize substantially all JOANN’s assets pursuant to an order entered by the U.S. Bankruptcy Court for the District of Delaware on February 26, 2025.
 
Most JOANN stores will stay open for going-out-of-business sales through May 2025, or until supplies run out. Furniture, fixtures, and equipment are also available for purchase. The retailer’s intellectual property will also be sold as part of this process.