Thursday, May 28, 2009

Anchor Blue Files Bankruptcy

Anchor Blue, which has a location at 820 State Street, has filed for bankruptcy protection. It has approximately 177 stores nationwide. The chain originated as Miller's Outpost in the 1970's but changed its named to Anchor Blue in the 1990's.

The fate of the stores is up in the air. Levi Strauss is the largest unsecured creditor and they are taking over Anchor Blue's chain of outlet stores called MOST. It is unsure if they will follow suit with the Anchor Blue locations.

The location at 820 State Street is approximately 5,800 SF and was opened in late 2003. Vacancy rates in the prime blocks of State, 700 to 900, are still very low. There should be a number of national tenants that would be willing to back fill the Anchor Blue space as it is a very desirable location. It is situated on the ground floor of a five story building that houses 24 Hour Fitness and a number of office tenants. It is also at the entrance to El Paseo and across the street from one of the entrances to Paseo Nuevo.

1 comment:

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