Trust purchases Toys “R” Us buildings

Iconic toy stores closed in March

The remaining Toys “R” Us store buildings have been sold to an affiliate of a CMBS trust, six months after the iconic toy store filed for bankruptcy and closed its doors.

Photo by BizTimes media partner WISN 12

Charlotte, North Carolina-based Tru Trust 2016 LLC purchased the properties from Toys “R” Us Property Company II LLC.

Toys “R” Us Inc. filed a motion seeking bankruptcy court approval to begin the process of winding down its business and liquidating its inventory at 735 U.S. stores in March and closed all of its locations.

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About 320 workers lost their jobs in Wisconsin.

Toys “R” Us, operated nine stores across Wisconsin. Locally, the buildings sold include:

  • Brookfield, 355 S. Moorland Road, $4.16 million
  • Milwaukee, 3900 S. 27th St., $3.1 million
  • Racine, 2433 S. Green Bay Road, $2.58 million

Tom Treder, principal of Founders 3 who specializes in retail brokerage, said the Racine store is a good site and should be absorbed for retail. The same is true on 27th Street, Treder said.

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“Brookfield is tough based on lack of exposure, but with the re-development of the Sears (at Brookfield Square Mall) and the proposed convention center, it will help with activity on that side of the mall,” Treder said.

 

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