By Bill Read
December 4, 2020
What Happened to the Former Toys R Us Locations?
- What types of stores are backfilling empty Toys R Us boxes
- Reporting on 430 of the 750 vacant spaces
- Subdivided space for multiple retail brands
Since Toys R Us filed for bankruptcy and closed their stores in June of 2018, much has changed in the retail world. Retail bankruptcies have skyrocketed, mainly due to the pandemic, but that’s not the only problem retail has faced. Before COVID-19 hit, several retailers felt the effects of too much debt, lagging sales, and consumer uptick in online shopping.
While there have been many reports about why Toys R Us failed, this report takes a deep dive into the former locations, and what types of stores are backfilling those empty boxes.
While malls have been hit particularly hard by the pandemic, retail around malls has remained rather resilient. The Toys R Us bankruptcy was not the largest retail failure, but in terms of available real estate it was one of the largest with more than 30 million square feet of big box space dumped on the market.
Around almost every mall in the U.S. was a Toys R Us or Babies R Us. These 30,000-50,000 sf boxes were generally well-located, yet many were dated in appearance and in need of a new occupant.
|31||Hobby and Craft|
About Retail Specialists
Retail Specialists, LLC (RSI) is the premier retail real estate services firm in the south. We are committed to long-term relationships in property management, retail representation, development, and leasing and brokerage. Founded in 2005, we’ve thrived through tough times and shine under pressure. A unique mix of experience, technology, and data have proven successful in a business we love.