MONTVALE, N.J. – A&P here said Tuesday that it was under contract for the sale of its real estate interests “in a few non-core store locations.”
The pending deals are a combination of leasehold sales and sale-leaseback transactions that are expected to generate proceeds for the company in excess of $130 million. A&P did not immediately identify the specific properties to be affected, or the buyers.
"This opportunity to unlock substantial real estate value from some of our owned and leased properties will provide additional liquidity as we continue to execute on our strategic initiatives and invest in our stores for growth,” Sam Martin, A&P’s president and chief executive officer, said in a statement.
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