Former Toys R Us real estate update! New York based firm, Raider Hill, was tasked back in mid-2018 as the exclusive real estate advisor to the Toys R Us bankruptcy estate. The company was assigned the leasing, redevelopment and disposition of approx. 320 vacant big boxes across 46 states. In less than 2 years, Raider Hill’s portfolio of former Toy R Us stores available for sale or lease had dwindled from 320 stores (15.5 million square feet) to 50 stores (2 million square feet.).
Majority of the space has been leased to national credit tenants, many of which included off price retailers and quick service restaurant concepts. It sold off some of the real estate to retailers that prefer to own their own properties and private investors that plan to repurpose the box for retail and other uses. The success of their efforts lies primarily in the underlying real estate as Toy R Us had stores in great locations that prompted many different options for redevelopment and many different opportunities for the repurposing of the fundamental real estate.