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More Toys R Us Stores Headed to Auction Block

Two-Day August Event to Put 123 Properties Up for Sale
August 1, 2018
Toys R Us creditors have scheduled a new auction round for some of the retailer’s remaining stores, with 123 set to go on the block next month.

Real estate brokerage A&G Partners will conduct an auction Aug. 13 to 14 on the Toys R Us and Babies R Us company-owned and ground-leased properties, which are spread among 29 states, the advisory firm said.

A&G will conduct the auction as long as qualified bids exceed an unspecified threshold on Aug. 7, which is the deadline for all the offers, according to the firm.

A&G has already sold more than 130 Toys R Us sites in prior auctions on behalf of creditors as part of the liquidation of the Wayne, NJ-based retailer. The company filed for Chapter 11 bankruptcy protection last year, and in March said that, in part because of the bad holiday season, it was being forced to liquidate all its assets and end its operations.

The stores that are part of the two-day August auction, which will be held in Manhattan, range from 20,000 to 65,000 square feet, according to Melville, NY-based A&G. The properties include Toys R Us and Babies R Us locations, as well as side-by-side or combined stores bearing both names. Some of the sites -- 112 owned by the retailer and the other 11 ground-leased properties -- are freestanding, while others are in shopping centers, according to A&G.

The group includes 18 sites in Ohio, 10 locations in California, one in Toms River, NJ, and multiple stores in states such as Illinois, Massachusetts and Pennsylvania.

In an interview, A&G Co-President Emilio Amendola said the stores being auctioned by his firm aren’t part of the group that are being disposed of by Raider Hill Advisors. Last week, Toys R Us said it had hired that Manhattan real estate and retail advisory firm to "maximize the value" of a portfolio of 284 commercial properties totaling 14.5 million square feet, including its headquarters, and some stores and distribution centers.

The corporate headquarters is on a nearly 200-acre campus in a bucolic, secluded section of Wayne in Passaic County.

The two-day A&G auction will begin at 10 a.m. Aug. 13 at the Manhattan offices of the debtors’ counsel, Kirkland & Ellis LLP, 601 Lexington Ave.

"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," Amendola said 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."

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