The Real Deal Miami

Benderson snags Toys “R” Us site in Plantation for $8M

The purchase marks the fifth Toys "R" Us store the group has purchased in South Florida
By Keith Larsen | December 10, 2018 02:36PM

From left: Toys “R” Us Plantation store and Benderson Development’s Randy Benderson

Benderson Development Co. just bought a Toys “R” Us store in Plantation, marking the group’s fifth Toys “R” Us purchase in South Florida.

The University Park, Florida-based private development group purchased the property at 8101 West Broward Boulevard for $7.8 million, property records show.

The sale comes just a few months after a company affiliated with PGA TOUR Superstore paid $7.6 million for the 2.8-acre retail site. PGA TOUR Superstore is a golf store chain with locations throughout the United States. The company plans to open the Plantation store in winter 2019, according to its website, signaling that Benderson Development is likely leasing the store to back to the golf retailer.

Benderson has been on a buying spree of former Toys “R” Us stores. This month, the company purchased a Toys “R” Us for $8.5 million in Doral , a Toys “R” Us in Boynton Beach for $9 million and one in Palm Beach Gardens for $6.5 million.

The firm also previously acquired a former Toys “R” Us store in North Miami Beach for $1.5 million.

In July, Toys “R” Us announced it brought on New York-based Raider Hill Advisors to help sell off 284 stores, distribution centers and other properties across the country. The toy retailer announced earlier this year that it would shutter all of its stores after it filed for Chapter 11 bankruptcy about a year ago. At the time it had $5 billion in long-term debt and $400 million due in 2018.

Toys “R” Us owned about a third of its 735 locations.