Sale on Aug. 13-14 includes 123 owned and ground-leased locations in 29 states; A&G Realty Partners conducts event on behalf of bankrupt retailer's creditors.
NEW YORK, July 31, 2018 /PRNewswire/ -- In a rare opportunity for retailers, landlords and real estate investors, a total of 123 Toys "R" Us and Babies "R" Us owned and ground-leased properties in 29 states will be auctioned on August 13-14 in Manhattan, provided that qualified bids exceed a certain threshold on August 7th. Advisory and real estate brokerage A&G Realty Partners is conducting the auction and Lazard is acting as investment banker to Toys "R" Us and its affiliated debtors. The deadline for all bids is August 7th.
With stores ranging in size from 20,000 to 65,000 square feet, the assets on offer include 10 locations in California, 18 in Ohio and multiple stores in states such as Illinois, Massachusetts and Pennsylvania.
The two-day auction will begin at 10:00 a.m. on August 13th at the Manhattan offices of debtors' counsel Kirkland & Ellis LLP, 601 Lexington Ave., provided that qualified bids exceed a certain threshold on August 7th. The properties include Toys "R" Us and Babies "R" Us locations, as well as side-by-side or combined stores featuring both nameplates. 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.
"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. "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."