Eighty-two Toys ‘R’ Us properties going on auction block
The sell-off of Toys “R” Us real estate assets continues.
A total of 82 former Toys “R” Us and Babies “R” Us stores and other real estate assets will be auctioned on Sept. 27 in Manhattan by advisory and real estate brokerage firm A&G Realty Partners, and Raider Hill Advisors, a private real estate investment and advisory firm. The auction will take place beginning at 10 a.m. EDT on Sept. 27 at the offices of Kirkland & Ellis LLP, 601 Lexington Avenue, New York.
The auction will include 52 ground-leased properties, 29 building leases and one parking lot lease. Ranging in size from 22,000 sq. ft. to 63,000 sq. ft., the sites include Toys “R” Us and Babies “R” Us locations, as well as side-by-side or combined stores with both nameplates. The properties are located across a total of 32 states, with heavy concentrations in New York, Michigan, California, Illinois, and Texas.
The event is contingent upon receipt of a sufficient number of qualified bids by the Sept. 20 bid deadline.
“The opportunities here are diverse and include both freestanding and shopping center locations,” noted Todd Eyler, a managing director at A&G. “These are well-located, high-visibility big-box sites that can work for single-users or be subdivided, which is precisely the type of flexibility required for the kinds of adaptive strategies that are pulling ahead in today’s real estate marketplace.”
For a full store list, as well as information on tours of specific properties, visit AGRealtyPartners.com.