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Federal Realty Investment Trust and Urstadt Biddle Properties are among the buyers lining up for a piece of the Toys 'R' Us real estate portfolio. The two REITs bid on the same store in Emeryville, Calif., Thursday, according to CNBC. Toys R Us' debtors have until April 12 to approve any final sales.
Roughly a dozen private real estate firms and equity groups are among those who submitted a total of 58 “qualified bids.” Out of these, Aldi and Target circled a store in Kendall, Fla. Big Lots bid on five stores — in Durham, N.C.; Exton, Pa; Fresno, Calif.; Woodbridge, Va.; and Indianapolis.
Furniture chain Raymour & Flanigan bid on three units. Golf & Tennis Pro Shop, which owns PGA Tour Superstore, bid on the same Indianapolis store as Big Lots, and also on a store in Vernon Hills, Ill.
By Brannon Boswell
Executive Editor, Commerce + Communities Today
