New York, NY (August, 2002): Katz & Associates, one of the nation’s most rapidly growing retail real estate firms, announces the sale of Loehmann’s warehouse facility located on Halsey Street, in the Bronx, NY.

Katz & Associates exclusively represents Loehmann’s in their national retail store expansion program. "An exciting opportunity presented itself over a year ago to take on an additional assignment for Loehmann’s," notes Dan Katz, President and CEO. "We were retained by Loehmann’s to handle the sale of their warehouse facility located at 2500 Halsey Street, Bronx, NY. The total square footage of the warehouse facility is 150,000 square feet consisting of 110,000 square feet of warehouse space and 40,000 square feet of office space containing Loehmann’s corporate headquarters. Loehmann’s relocated their clothing distribution to their warehouse in New Jersey while continuing to use the 40,000 square feet of dedicated office space."

Farron Roboff, Senior Vice President of Katz & Associates and responsible for the sale, reported that "we were successful in selling the entire space and, additionally, arranged for a lease back on the office space so that Loehmann’s corporate offices could remain. This deal was quite complex in the sense that Loehmann’s owned the building and another party owned the land. Future plans by the new owner are to convert the warehouse into additional office space." Loehmann’s realized $5 million in cash from the transaction.

Loehmann’s is a leading specialty retailer of well-known designer and brand name women’s and men’s fashion apparel, accessories and shoes at prices that are typically 30 to 65% below department store prices. Loehmann’s operates 43 stores in major metropolitan markets located in 16 states.