Bankruptcy Lease Auction* - GA Keen Realty Advisors Markets DAFFY’S Retail Sites in New York, New Jersey

  Bankruptcy Lease Auction* - GA Keen Realty Advisors Markets DAFFY’S Retail
  Sites in New York, New Jersey

     -Former Daffy’s retail locations offer strategic locations, flagship
                                  potential-

Business Wire

NEW YORK -- November 02, 2012

GA Keen Realty Advisors, a division of Great American Group, Inc. (OTCBB:
GAMR), is marketing several world-class lease opportunities that offer
strategic retail locations in New York City and surrounding areas and
boroughs, along with three sites in northeastern New Jersey.

GA Keen Realty Advisors has been retained by Jericho Acquisitions I, LLC and
Aurora Capital Associates to market the remaining 11 former Daffy’s
high-fashion discount stores as part of a bankruptcy lease auction, according
to GA Keen Realty Advisors Co-President Harold Bordwin.

“All sites are available at below-market lease rates and are in strategic
locations with flagship potential, which make these properties desirable for
retailers who want to make inroads into New York City and its adjacent
markets,” Bordwin said.

The retail spaces range from 17,000 to 54,000 square feet in size and are at
the following locations:

  *Route 1 and Route 9 North, Elizabeth, New Jersey
  *165 Route 4 West, Paramus, New Jersey (Paramus Place)
  *215 Route 46 West, Totowa, New Jersey (Totowa Shopping Center)
  *2146 Bartow Ave., Bronx, New York (Bay Plaza)
  *88-01 Queens Blvd., Elmhurst, New York (Queens Place)
  *1900 Northern Blvd., Manhasset, New York
  *335 Madison Ave. at 44^th St., New York City
  *135 East 57^th St., New York City
  *1775 Broadway at 57^th St., New York City
  *229 West 43^rd St., New York City
  *3 East 18^th St., New York City

The bid deadline is Friday, Dec. 7 and an auction date is currently set for
Wednesday, Dec. 12. All transactions are subject to bankruptcy court approval.
“We have the ability to transact prior to the bid deadline so we encourage all
interested parties to reach out to us immediately.” For more information about
the properties, contact Harold Bordwin at 646-381-9222 or email
daffys@greatamerican.com.

Daffy’s Inc., founded in 1961 and based in Secaucus, New Jersey, was known for
selling national fashion brands at up to 80 percent off list prices. A victim
of a fiercely competitive landscape that had already claimed rivals Syms and
Filene’s Basement, the company announced it was going out of business in July.

GA Keen Realty Advisors provides real estate analysis, valuation and strategic
planning services, brokerage, M&A, auction services, lease restructuring
services and real estate capital market services. For more information,
contact GA Keen Realty Advisors at (646) 381-9222 or visit
http://www.greatamerican.com/services/real_estate/real_estate.html.

About Great American Group, Inc. (OTCBB: GAMR)

Great American Group is a leading provider of asset disposition and auction
solutions, advisory and valuation services, capital investment, and real
estate advisory services for an extensive array of companies. A trusted
strategic partner at every stage of the business lifecycle, Great American
Group efficiently deploys resources with sector expertise to assist companies,
lenders, capital providers, private equity investors and professional service
firms in maximizing the value of their assets. The company has in-depth
experience within the retail, industrial, real estate, healthcare, energy and
technology industries. The corporate headquarters is located in Woodland
Hills, Calif. with additional offices in Atlanta, Boston, Charlotte, N.C.,
Chicago, Dallas, New York, San Francisco and London. For more information,
call (818) 884-3737 or visit www.greatamerican.com.

* Disclosure-Pursuant to an Order dated August 8, 2012, of the United States
Bankruptcy Court presiding over the Chapter 11 case, Case #12-13312( MG) In Re
Daffy’s Inc. (“Daffy’s”), Daffy’s was authorized to sell certain assets to
Jericho Acquisition I, LLC (“Jericho”) including but not limited to its
interest in certain real property leases. Jericho has retained GA Keen Realty
Advisors, LLC and Keen Realty, LLC to conduct an auction in order to sell
these real property leases acquired from Daffy’s.

Contact:

Great American Group
Connie Stevens, Marketing Manager
847-943-2094
cstevens@greatamerican.com
or
Mulberry Marketing Communications
Ron Whittington
Senior Account Executive
904-355-8680
rwhittington@mulberrymc.com
 
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