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 and 14 in Manhattan, provided that qualified bids exceed a certain threshold on August 7. 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 7.
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 13 at the Manhattan offices of Toys “R” Us counsel Kirkland & Ellis LLP, 601 Lexington Ave., provided that qualified bids exceed a certain threshold on August 7. 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.
