Toys’R’Us may be gone, but who’s moving in the empty buildings? Who could move into all those brick-and-mortar stores? It doesn’t look like they’ll be empty for long.
The Wall Street Journal recently reported the empty stores are being taken over by Arts and crafts retailers like Hobby Lobby, and off-price chains Burlington Stores and T.J. Maxx and Marshalls. Other retailers including Big Lots and Scandinavian Designs have also bid on some Toys ‘R’ Us locations in bankruptcy court.
Kimco Realty Corporation, which owns some of the vacated Toys ‘R’ Us locations and is a major open-air shopping center developer, says their Toys ‘R’ Us locations “are already seeing significant demand from our list of growing retailers that are in search of high-quality locations.” Adding, “In addition to the thriving categories of off-price, health and wellness, specialty grocer, home improvement, furniture, arts and crafts, and entertainment, we have started to see new demand coming from co-working facilities, hospitality groups and medical facilities.”
What would you like to see move into the vacated building here in Amarillo?