Special offer

Chico's Real Estate Holdings in Lee County Sold for $82,385,000

By
Services for Real Estate Pros

Aslan Realty Advisors~Paige Rausch's thoughts about a singular real estate transaction that will change the Lee County community forever:
I remember four decades ago there was one store with really unique clothing and accessories~the name of the store was Chico's, and the owners, Marvin and Helene Gralnick. The store opened in 1983, and the location was Sanibel Island.
Fast Forward 40 years....
As of October 28, 2023 Chico's had 1,256 boutiques and outlets throughout the U.S. (including Puerto Rico and U.S. Virgin Islands), as well as an online presence for each of its brands.

On January 5th 2024 Chico's Retail Services INC, a Florida Corporation, whose address is 11215 Metro Parkway, Fort Myers, FL 33966 sold their portfolio of real estate located in Lee County for $82,385,000.00 to PROPCO HQ HOLDCO LLC, a Delaware LLC whose address is C/O Sycamore Partners Management LP, 9 West 57th Street, 31st Floor, New York, New York 10019.

"If one tries to think about history, it seems to me - it's like looking at a range of mountains. And the first time you see them, they look one way. But then time changes, the pattern of light shifts. Maybe you've moved slightly, your perspective has changed. The mountains are the same, but they look very different."
Robert Harris

Please send me a message for a copy of the Deed for further details and property description. 

Comments (4)

Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Great information. Thanks for sharing, enjoy your weekend, and here's a GOOD LUCK to your favorite Football Team!

Jan 13, 2024 05:06 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Paige. The times they have certainly changed. Lived in Ft. Myers when they built their headquarters and began accumulating more building and land. Would never have thought it would sell for that amount. Yes, change is there forever. Enjoy your day.

Jan 13, 2024 06:10 AM
Aslan Realty Advisors, LLC

Wayne, 
The amount only represents the sale of the properties in the deed. 
The total amount of the sale of Chico's was 1 Billion. 
Strap/Parcel identification included in the transaction.

Jan 13, 2024 06:49 AM
Aslan Realty Advisors, LLC
Fort Myers, FL
Staying a step ahead with Pride!

Sycamore Partners Completes Acquisition of Chico's FAS, Inc.


NEWS PROVIDED BY

Chico's FAS, Inc. 

05 Jan, 2024, 08:40 ET

 

FORT MYERS, Fla.Jan. 5, 2024 /PRNewswire/ -- Chico's FAS, Inc. ("Company" or "Chico's FAS,"NYSE: CHS) today announced the completion of its acquisition by Sycamore Partners, a private equity firm specializing in retail, consumer, and distribution-related investments, for $7.60 per share, in an all-cash transaction valued at approximately $1 billion.
https://www.prnewswire.com/news-releases/sycamore-partners-completes-acquisition-of-chicos-fas-inc-302027189.html

Jan 13, 2024 06:52 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Enjoyed your blog page, and I added you as a follower. I would love the follow back. Also, then we both get 50 points. Bill

Jan 14, 2024 05:45 AM