Former Toys R Us Landlords, Investors Tussle in Opening Round of Bidding Over Bankrupt Retailer`s Store Leases

Updated: Landlords Hoping to Attract Higher Rents and Value Through Redevelopment, Re-Tenanting as 735 Stores Go Dark Across the Country

A U.S bankruptcy judge Thursday approved 44 uncontested bids for Toys R Us and Babies R Us leases across the country in the first round of dispositions for the 735 stores to be closed by the toy retailer.

Following an auction two weeks ago at the New York City offices of law firm Kirkland & Ellis, LLP, Wayne, NJ-based Toys R Us, Inc. picked 50 winning bids for less than one-third of the 157 Toys R Us and Babies R Us locations ranging from 20,000 to 70,000 square feet offered for sale last month by bankruptcy disposition specialist A&G Realty Partners...
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- - Volume: 6 - WEEK: 17 Date: 4/24/2018 7:01:53 AM -