Toys R Us closures will leave hundreds of vacant stores on the market with few obvious replacements

Toys R Us is planning to close or sell more than 800 stores across the U.S., leaving a surplus of unoccupied real estate on the market.

The abrupt shuttering of the toy chain spells good news and bad news for landlords. Some are betting on being able to find more profitable uses, while others will be left scrambling to find replacements.

“An important distinction between Toys and other recent bankruptcies is that many of Toys’ leases [today] are well-below market — a silver lining for landlords,” analysts from Green Street Advisors wrote in a note to clients.

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