123 Toys ‘R’ Us, Babies ‘R’ Us Stores Go on Block
The two-day auction will begin at 10 a.m. on Aug. 13th at the Manhattan offices of debtors' counsel at 601 Lexington Ave.
NEW YORK CITY—A total of 123 Toys ‘R’ Us and Babies ‘R’ Us owned and leased stores in 29 states will be auctioned on Aug. 13-14 in Manhattan.
A&G Realty Partners is conducting the auction and Lazard is acting as investment banker to Toys ‘R’ Us and its affiliated debtors in the auction. The deadline for the submission of bids is Aug. 7.
The two-day auction will begin at 10 a.m. on Aug. 13th at the Manhattan offices of debtors’ counsel Kirkland & Ellis LLP, 601 Lexington Ave., provided that qualified bids exceed a certain threshold by the bid submission deadline on Aug. 7. The bankrupt retailer filed documents in bankruptcy court earlier this year and later did indeed shutter all of its approximately 800 US stores.
Available stores range in size from 20,000 square feet to 65,000 square feet. Among the properties available at the auction include 10 locations in California (Bell Gardens, Dublin, Los Angeles-Van Nuys, Mission Viejo, Modesto (2), Murrieta, Oxnard, Riverside and Vista), numerous store locations in Ohio (Boardman (2), Canton, Cincinnati, Columbus, Copley, Cuyahoga Falls, Dublin, Elyria, Holland, Mentor, Miamisburg, North Olmstead, Reynoldsburg, Saint Clairsville, Sandusky, Toledo, and multiple stores in Illinois, Massachusetts and Pennsylvania.
In the New York metro area, there are three available locations in Connecticut (Milford (2), Norwalk); one location in New Jersey (Toms River); and four locations in New York (Nanuet, Poughkeepsie, Syracuse and Yonkers).
“This latest auction presents a rare opportunity for buyers to advance their real estate strategies with well located, high-visibility big-box sites that can work for single-users or be subdivided,” says Emilio Amendola, co-president of A&G Realty. “Rarely do these many prime retail properties become available all at once. As with our prior, well-attended auctions for Toys ‘R’ Us sites, we anticipate a robust response to this group of properties.”
The properties include Toys ‘R’ Us and Babies ‘R’ Us locations, as well as side-by-side or combined stores featuring both retailers. Some of the sites are freestanding, while others are located in shopping centers. They include 112 owned and 11 ground-leased properties, according to A&G Realty, which in prior auctions sold more than 130 Toys ‘R’ Us sites.