Scan International, Inc. Retains Keen Consultants to Auction Five Retail Leases and One Warehouse Lease

. January 22, 2008

Scan International, Inc., debtor and debtor-in-possession, has retained Keen Consultants, the real estate division of KPMG Corporate Finance LLC and its wholly owned subsidiary, KPMG CF Realty LLC, to market and assist with the disposition of the company’s retail and warehouse leasehold interests located in Maryland and Virginia. Scan operates five prime retail sites in Maryland and Virginia that range in size from 15,000 to 40,000 sq. ft., and has an 81,280 sq. ft. warehouse in Maryland. The company filed for Chapter 11 protection on December 26, 2007 in the United States Bankruptcy Court for the District of Maryland. Keen Consultants is a real estate consulting firm specializing in maximizing the value of its clients’ real estate assets nationwide.

“We are pleased to offer these Scan Furniture leases for sale,” said Mike Matlat, Director, KPMG Corporate Finance LLC. “These stores are located in prime locations and represent a good opportunity for retailers looking to expand. The bid deadline and auction dates are currently To Be Determined, but interested parties are encouraged to act immediately, as the leases may be sold prior to the auction,” Matlat added. The retail leases are located in Columbia, MD; Lutherville, MD; Rockville, MD; Dulles, VA; and Falls Church, VA. The warehouse lease is located in Columbia, MD.

On October 1, 2007 KPMG Corporate Finance LLC, a full service, independent, middle-market investment bank, announced it has acquired substantially all of the assets of Keen Consultants, LLC and Keen Realty, LLC. Keen Consultants is operating as the real estate division of KPMG Corporate Finance LLC. Established in 1982, Keen specializes in selling excess assets and restructuring real estate and lease portfolios for companies nationwide. Keen has had extensive experience solving complex problems and evaluating and selling real estate, leases and businesses. Keen has evaluated and disposed of more than 20,000 properties containing nearly 2,000,000,000 sq. ft. across the country. Former clients included: Cable & Wireless, Meadowcraft, American Candy, Spiegel/Eddie Bauer, Arthur Andersen, Service Merchandise, Tommy Hilfiger, Warnaco, and JP Morgan Chase.

For more information regarding the disposition Scan Furniture Stores, or any other properties available, please contact Keen Consultants – KPMG Corporate Finance, 1305 Walt Whitman Road, Suite 200, Melville, NY 11747, Telephone: 631-351-7800, Fax: 631-794-2468, Email: mmatlat@kpmg.com, Attn: Mike Matlat.

Category: Auction News

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