Toys “R” Us closed 800 locations this year. Now, its stores are flying off the shelves

Vacant stores have proven to be popular sites for other retailers

Dec.December 27, 2018 11:00 AM

An empty Toys “R” Us store (Credit: iStock)

Former Toys “R” Us stores are selling quickly in the wake of the company’s bankruptcy.

The retailer has closed roughly 800 stores this year, and buyers have been scooping them up quickly thanks in part to their relatively long leases and cheap rents, according to the Wall Street Journal. The stores’ wide variety of configurations and sizes is also increasing demand, as it makes them well-suited for new tenants ranging from auto dealers to health-care providers.

This has not always been the case with failed retailers. Sports Authority, for instance, filed for bankruptcy in 2016 and struggled to sell its stores. The chain sold roughly a third of its 450 stores after 18 months, although demand eventually picked up.

Not all former Toys “R” Us locations have moved, though: some locations didn’t even receive bids, and at least 268 store leases were rejected.

Meanwhile, A&G Realty Partners has handled the sales for 567 Toys “R” Us sites and sold 209 of them during auctions.

“It’s a great showing,” A&G co-president Emilio Amendola told the Journal. ”If you sold 10 percent, you’d be dancing in the streets.” [WSJ] – Eddie Small

Related Articles

An example of roll-off waste management (Credit: YouTube, iStock)

Big building owners prevent city from dumping container-pickup in trash-collection reform

“I can talk about erections all day”: NAR tech consultant’s bizarre fireside chat

Retail ruh-roh: Mall REITs take hit following Forever 21 bankruptcy

For mall owners like Simon, Brookfield and Vornado, Forever 21 bankruptcy signals more trouble ahead

Council member Vanessa Gibson (Credit: New York City Council)

Commercial landlords face new fines as City Council passes anti-harassment bill

As House begins impeachment inquiry, here’s what we know about Trump’s Ukraine-real estate ties

Embattled Prodigy Network CEO Rodrigo Niño to step down

Clockwise from top left: 35-00 48th Street in Astoria, 558 Broadway, 63 Madison Avenue, and 85 Jay Street in Brooklyn (Credit: Google Maps, Wikipedia, LoopNet, and Williams New York)

These were the top 10 NYC retail leases in August