Joann to Close All Greater Philadelphia Stores and Put Leases Up for Auction

A New York real estate advisory firm is preparing to auction off a total of 790 retail store and five distribution center leases on behalf of the new owners of Joann Inc. This auction will provide an opportunity for interested parties to acquire prime real estate assets in the retail sector. Joann Inc. is a leading fabric and craft retailer, and the sale of these leases will allow the company to streamline its operations and focus on its core business. The auction is expected to attract a wide range of potential buyers, including real estate investors and retail companies looking to expand their presence in the market. This sale presents a unique opportunity for investors to acquire well-positioned properties with strong potential for future growth. By partnering with a reputable real estate advisory firm, Joann Inc. is taking the necessary steps to maximize the value of its assets and ensure a successful auction process.