DJM Realty to Dispose of All Remaining Circuit City Real Estate in the United States

MELVILLE, N.Y., Feb. 5 /PRNewswire/ -- DJM Realty, a Gordon Brothers Group company, has been retained to exclusively manage the disposition of all remaining Circuit City Stores, Inc. real estate in the United States.

In addition to marketing the remaining Circuit City store leases, DJM Realty will be marketing the distribution centers, office spaces and fee owned properties for sale. Circuit City is a specialty retailer of consumer electronics and related services. As of December 31, 2008, the domestic segment operated 567 stores in 153 U.S. media markets. Circuit City filed for Chapter 11 bankruptcy protection on November 10, 2008, and started liquidation sales on January 17, 2009. The engagement of DJM Realty, which is subject to bankruptcy court approval, anticipates a bid due on March 12, 2009.

"Circuit City's real estate has begun to create interest among national and regional retailers and supermarkets. There are great opportunities for schools and other non-retail uses. Several buildings are free standing which offer opportunities for multiple uses. Several of the surplus properties are located in markets that are very difficult to enter, these markets include northern and southern California, the cities of New York, Chicago, Dallas and Houston including the neighboring suburbs," said Andy Graiser and Emilio Amendola, DJM Realty's Co-Presidents.

The 578 leases that are available for assignment in this bankruptcy sale range from 16,844 - 82,555 square feet and are in the following states: AL, AR, AZ, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, NC, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, TN, TX, UT, VA, VT, WA, WI, WV AND WY.

In addition to the retail leases, DJM Realty is marketing 13 fee owned properties consisting of 5 retail locations in Phoenix, Arizona; Moreno Valley, California; San Jose, California; Louisville, Kentucky; and Baltimore, Maryland, 1 service center in Lithia Springs, Georgia, 7 land parcels in Los Angeles, California; Marion, Illinois; Ardmore, Oklahoma; Lehigh, Pennsylvania; Florence, South Carolina; Richmond, Virginia; and Virginia Beach, Virginia.

Circuit City property details will be available shortly at www.djmrealty.com. For more information please contact James Avallone at javallone@djmrealty.com or 631-927-0024.

DJM Realty has worked with more than 235 companies to dispose of their excess or under-performing real estate. DJM Realty is a leader in finding innovative ways to consolidate and reconfigure real estate to achieve the highest possible value.

About DJM Realty

DJM Realty, a Gordon Brothers Group company, specializes in real estate dispositions, renegotiation of occupancy costs, acquisitions, valuations and capital solutions. DJM Realty has serviced the nation's most recognizable brands in healthy and distressed situations. Bankruptcy clients have included Linens 'n Things, Goody's, KB Toys, Kmart, The Sharper Image, Whitehall Jewelers, Bombay, The Wiz, and Winn-Dixie. DJM Realty is a leader in finding innovative ways to consolidate and reconfigure real estate to achieve the highest possible value. DJM Realty was founded in 1992 and is headquartered in New York with offices in Los Angeles, Boston and Chicago. For more information, please visit www.djmrealty.com.

About Gordon Brothers Group

Founded in 1903, Gordon Brothers Group (www.gordonbrothers.com)is a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial, and real estate sectors. Gordon Brothers Group maximizes value for both healthy and distressed companies by purchasing or selling all categories of assets, appraising assets, providing debt financing, making private equity investments, and operating businesses for extended periods. Gordon Brothers Group conducts over $40 billion in transactions and appraisals annually.