More than 120 Toys ‘R’ Us and Babies ‘R’ Us properties in 29 states will be auctioned on August 13 and 14, provided qualified bids exceed a pre-set threshold by the bid deadline of August 7.
The stores range in size from 20,000 to 65,000 square feet and include 18 sites in California, 10 in Ohio and multiple stores in states including Illinois, Massachusetts and Pennsylvania. Properties include separate Toys ‘R’ Us and Babies ‘R’ Us locations as well as side-by-side or combined stores featuring both nameplates. Some sites are freestanding; others are located in shopping centers.
A&G Realty Partners will conduct the auction, to be held at the Manhattan office of debtors’ counsel Kirkland & Ellis LLP. Lazard is acting as investment banker to Toys ‘R’ Us and its affiliated debtors.
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“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,” said Emilio Amendola, Co-President of A&G Realty in a statement. “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.”
