- February 14, 2025
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Big Lots’ new owner is selling the leases for nearly 500 stores in 47 states, including 15 locations between Pasco and Collier counties and east to Lakeland.
The new owner, Gordon Bros., a Boston based assets company, says the store leases up for sale are for properties that range from 18,963 square feet to 54,933 square feet and are mostly located in shopping centers. A total of 44 are in Florida.
The company says it is accepting offers for individual or multiple locations. Bids are due no later than Jan. 24.
Gordon Bros. recently bought Big Lots, a closeout retailer that focuses on “extreme value,” out of bankruptcy saving it from what many had feared would be a total liquidation of the retailer.
Despite the concerns, Gordon decided to keep hundreds of stores open. It first provided a $200 million delayed draw term loan to give the company liquidity as it implemented a turnaround strategy and a $150 million debtor-in-possession financing when it filed for Chapter 11 bankruptcy in September.
Despite the financing and the decision, the chain was forced to close or sell hundreds of stores. According to CoStar, Big Lots had closed about 500 stores nationwide as of Oct. 30 and leases for 255 more were up for sale at that time.
As part of its purchase, Gordon agreed to sell between 200 and 400 Big Lots locations and two distribution centers to North Carolina-based retailer Variety Wholesalers Inc.
Variety is operating the locations it bought under the Big Lots brand and, according to a Jan. 3 news release announcing the agreement, says it would keep store and distribution center employees as well as some corporate employees needed to keep operating Big Lots moving forward.
As for the store leases now up for sale, Gordon’s co-head of North America real estate services Michael Burden calls them an “opportunity for expansion-minded retailers to grow their footprint.”
Big opportunity at Big Lots | ||
Store Number | Address | Size |
5171 | 5584 CORTEZ ROAD W. BRADENTON | 40,919 SQUARE FEET |
4220 | 1243 S MISSOURI AVE. CLEARWATER | 26,541 SQUARE FEET |
1545 | 4429 CLEVELAND AVE. FORT MYERS | 31,486 SQUARE FEET |
5196 | 4212 US HIGHWAY 98 N. LAKELAND | 32,293 SQUARE FEET |
5190 | 4233 S FLORIDA AVE. LAKELAND | 39,713 SQUARE FEET |
1649 | 2414 LAND O LAKES BLVD. LAND O LAKES | 38,688 SQUARE FEET |
522 | 5241 US HWY 19 NEW PORT RICHEY | 33,746 SQUARE FEET |
561 | 1825 TAMIAMI TRL. PORT CHARLOTTE | 29,515 SQUARE FEET |
540 | 2900 34TH ST. N. ST. PETERSBURG | 46.974 SQUARE FEET |
5370 | 501 N. BENEVA RD. SARASOTA | 42,198 SQUARE FEET |
547 | 7565 W. HILLSBOROUGH AVE. TAMPA | 30,000 SQUARE FEET |
529 | 565 US HWY 41 BYPASS VENICE | 30,080 SQUARE FEET |
1501 | 4840 ALLEN RD. ZEPHYRHILLS | 41,139 SQUARE FEET |
5344 | 1427 S. COLLINS ST. PLANT CITY | 46,514 SQUARE FEET |
546 | 12820 U.S. HWY 301 DADE CITY | 30,267 SQUARE FEET |