Conducted by A&G and Raider Hill, major sale event in New York includes 52 ground-leased properties, 29 building leases and one parking lot lease; bid deadline is September 20th.
NEW YORK, Aug. 27, 2018 /PRNewswire/ -- A total of 82 former Toys "R" Us and Babies "R" Us stores and other real estate assets will be auctioned on September 27th in Manhattan by A&G Realty Partners and Raider Hill Advisors.
Acting on behalf of the debtor of Toys "R" Us Property Company I, LLC ("Propco I"), Melville, N.Y.-based A&G, an advisory and real estate brokerage, and Manhattan-based Raider Hill, a private real estate investment and advisory firm, will auction the assets beginning at 10:00 a.m. EDT on September 27th at the offices of debtors' counsel Kirkland & Ellis LLP, 601 Lexington Ave, New York, N.Y. The event is contingent upon receipt of a sufficient number of qualified bids by the September 20th bid deadline.
The auction will include 52 ground-leased properties, 29 building leases and one parking lot lease. Ranging in size from 22,000 to 63,000 square feet, the sites include Toys "R" Us and Babies "R" Us locations, as well as side-by-side or combined stores with both nameplates. The assets are located across a total of 32 states, with heavy concentrations in New York, Michigan, California, Illinois, and Texas.
"The opportunities here are diverse and include both freestanding and shopping center locations," noted Todd Eyler, a Managing Director at A&G. "These are well-located, high-visibility big-box sites that can work for single-users or be subdivided, which is precisely the type of flexibility required for the kinds of adaptive strategies that are pulling ahead in today's real estate marketplace."
The 82 sites are part of the Propco I portfolio. Raider Hill was retained in late-July by Propco I to maximize value and direct the sale of the portfolio comprised of 279 sites, including former stores, distribution centers, the corporate headquarters and surplus properties. A&G, which previously led five other auctions for Toys "R" Us sites—including last week's event for 123 Propco II sites--was enlisted by Raider Hill to conduct this latest auction.
To submit bids and/or request additional information, contact Emilio Amendola (Emilio@AGRealtyPartners.com), Mike Matlat (Mike@AGRealtyPartners.com) or Todd Eyler (Todd@AGRealtyPartners.com). The main number for A&G Realty's Melville, N.Y.-headquarters is (631) 420-0044. Interested parties can also contact Bryan Zabell at Raider Hill at BZabell@RaiderHill.com. The main number for Raider Hill is (212) 223-9090.
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