Macquarie Tenant Files for Bankruptcy
Circuit City has stated publicly that it plans to continue operating the business without interruption as management focuses on developing and executing a comprehensive corporate restructuring plan. Please refer to Circuit City’s website (www.circuitcity.com) for details.
Circuit City currently has seven leases within the Macquarie DDR portfolio covering 222,916 sqft (approximately 1.4% of gross lettable area) and representing approximately 1.9% of the Trust’s annual base rental income. Three of the seven leases were signed in the last quarter with a weighted average lease term of 8.6 years.
Based on the preliminary list of store closures publicly provided by Circuit City, none of the seven stores in the Macquarie DDR portfolio have been listed for closure.
