An auction will take place in New York this month to sell-off 123 former Toys “R” Us and Babies “R” Us sites across the United States.
Advisory and real estate brokerage A&G Realty Partners, which has already sold more than 130 of the failed US company’s sites, will hold the auction on behalf of creditors at the Manhattan offices of law firm Kirkland & Ellis.
The stores are located across 29 states and include 112 that are owned by Toys “R” Us and 11 that are ground-leased.
"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."
The properties range from 20,000 to 60,000 square feet and are a mix of freestanding and shopping centre locations.
The auction will take place over two days 13-14 August providing a certain threshold is reached by qualifying bids by the August 7 deadline.
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