The transaction involves a retail portfolio in multiple markets including McAllen, San Antonio, Dallas, El Paso, Laredo, Amarillo, Texas City & Austin; Phoenix, Arizona; Las Vegas & North Las Vegas, Nevada; Garner, North Carolina; and Orlando, Florida. The sale price for this portfolio amounted to $7,000,000. The asset consisted of 15 real estate leases previously held by Conn's, a furniture and appliance retailer that filed for bankruptcy in July, as part of Burlington's strategy to expand its retail presence.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $7,000,000
• Buyer: Michael O’Sullivan - Burlington
• Seller: Norman Miller - Conn’s Inc.
• Leases acquired: 15
• Geographic Markets: McAllen, San Antonio, Dallas, El Paso, Laredo, Amarillo, Texas City & Austin, Phoenix, Arizona, Las Vegas & North Las Vegas, Nevada, Garner, North Carolina, Orlando, Florida
• Burlington's expansion strategy: Open more than 100 stores annually over the next five years

Michael O’Sullivan represents Burlington in the transaction, while Norman Miller represents Conn's Inc. The acquisition is part of a broader initiative by Burlington to adapt to changes within the retail industry.