The liquidation of Toys R Us is proving to be a long and complex process.
The toy retailer, having filed for bankruptcy protection late last year and kicking off liquidation sales around this March, is slowly selling its real estate — what amounted to more than 800 stores across the U.S.
According to court documents filed Wednesday in Virginia, another round of Toys R Us shops has been bid on, and the winners include retailers Aldi, Big Lots, Ollie's Bargain Outlet, Ashley Furniture, and Raymour & Flanigan. (See a complete list below of the locations bid on this month, along with the winning bidders and backup bidders.)
CNBC has previously reported on the tough situation that many real estate owners are in with so many Toys R Us and Babies R Us stores going dark. Few retailers of that same size are still growing their physical footprints today. There are few logical replacements for such big stores in the market.
Some retailers, like Dick's Sporting Goods, have said they will consider opening more stores when rents come down and they are able to get a better deal on the real estate. Other companies, including Barnes & Noble and T.J. Maxx, are actively looking to reposition their stores and move into better shopping centers.
In many instances, landlords are buying back the vacated Toys R Us boxes and will take it upon themselves to find new tenants.
"I think there is going to be solid demand for these locations," Bill Read, executive vice president of consulting group Retail Specialists, told CNBC. "Most are around successful malls with high barriers to entry, solid demographics and high incomes. The locations by 'B' and 'C' malls may take longer to sell or lease."
"There are also a lot of people waiting on the sidelines to see how the [Toys R Us locations] price and if they can get a bargain for the real estate," Read said.
The purchase prices of the locations recently bid on haven't been disclosed.
Store #, Address, Successful Bidder, Backup Bidder
5639, 98-211 Pali Momi Street Aiea, Landlord, N/A
5654, 1445 Montebello Blvd. Montebello, Big Lots, Hobby Lobby
5683, 4460 Ontario Mills Parkway Ontario, Scandinavian Designs, Grand Sakwa/ Huntington LLC
5685, 5968 South State St. Murray, Scandinavian Designs, Grand Sakwa/ Huntington LLC
5693, 4430 Ontario Mills Parkway Ontario, Big Lots, Grand Sakwa/ Huntington LLC
5806, 8507 Bond Rd. Elk Grove, Scandinavian Designs, Grand Sakwa/ Huntington LLC
5811, 6850 Amador Plaza Road. Dublin, Mad Monk Holdings LLC, Grand Sakwa/ Huntington LLC
5822, 43756 Christy Street Fremont, Grand Sakwa/ Huntington LLC, Landlord
6003, 270l Veteran's Pkwy Springfield, Big Lots, N/A
6019, 3330 N.Western Ave. Chicago, Ashley Furniture, Grand Sakwa/ Huntington LLC
6033, 7309 West Towne Way Madison, Grand Sakwa/ Huntington LLC, N/A
6034, 6449 E. State Street Rockford, Landlord, N/A
6309, 5520 Sunrise Highway Massapequa, NSC, Landlord
6324, 1851 Sunrise Highway Bayshore, Big Lots, N/A
6336, 350 Bay Chester Avenue Bronx, Burlington, Raymour & Flanigan
6429, 169 Hale Road Manchester Grand, Sakwa/ Huntington LLC, Landlord
6478, 20111 Route 19 Cranberry Township, Schottenstein, N/A
6481, 17 Route 9 South. Manalapan, Raymour & Flanigan, N/A
6502, 2601 Veterans Pkwy Springfield, Landlord, N/A
6534, 1860 Main Court Chula Vista, Landlord, Ashley Furniture
6536, 10002 Gulf Center Dr Ft. Myers, Landlord, N/A
6570, 13315 Rittenhouse Drive Midlothian, Barclay Group Venture Capital LLC, Grand Sakwa/ Huntington LLC
7040, 4600 Hardy Street Hattiesburg, Ollie's Bargain Outlet, N/A
7046, 16618 SW Frwy Sugarland, Landlord, Ollie's Bargain Outlet
7503, Northshore S/C (Rts 128/114) Peabody, Golf & Tennis, Grand Sakwa/ Huntington LLC
7504, 416 Southbridge St. Auburn, Big Lots, Ocean State Job Lot Stores
7532, 1460 Pleasant Valley Rd. Manchester, Huntington, N/A
7805, 2100 N.Town East Blvd Mesquite, Ollie's Bargain Outlet, N/A
8002, 17501 Southcenter Parkway Seattle, Landlord, N/A
8014, 2070 N Eagle Road Meridian, Landlord, N/A
8308, 2045 Cottman Ave. Philadelphia, Raymour & Flanigan, Big Lots
8345, 1730 Valley Mall Road Hagerstown, Ollie's Bargain Outlet, Landlord
8348, 660 Market Place Dr. Bel Air, Landlord, Ollie's Bargain Outlet
8350, 6711 Ritchie Highway Glen Burnie, Ollie's Bargain Outlet, Landlord
8358, 4943 Valley View Blvd. Roanoke, Ollie's Bargain Outlet, N/A
8373, 3728 High Point Road Greensboro, Scandinavian Designs, Grand Sakwa/ Huntington LLC
8710, 4983 S. Cleveland Ave. Fort Myers, Landlord, N/A
8719, Carretera #2- KM 159.0 Mayaguez, Supermercado Mr. Special, N/A
8732, 1972 Wells Road Orange Park, KLA Auction LLC, N/A
8751, 4607 Millenia Plaza Way Orlando, Ashley Furniture, N/A
8809, 6884 GOVERNORS WEST, Huntsville, Landlord
8810, 8009 Kingston Pike Knoxville, Landlord, N/A
8819, 7171 North Davis Highway Pensacola, Landlord, N/A
8894, 1214 Bridford Parkway Greensboro, Landlord, N/A
8909, 1650 E. County Line Rd. Indianapolis, Big Lots, N/A
9009, 335 Summit Boulevard Birmingham, Landlord, N/A
9062, 12347 Seal Beach Boulevard Seal Beach, Landlord, Grand Sakwa/ Huntington LLC
9204, 1385 SOM Center Road Mayfield Heights, Aldi, N/A
9504, 2190 Wanamaker Rd. Topeka, Discovery Furniture, Landlord
9525, 6910 S. Memorial Drive Tulsa, Landlord, N/A
9537, 4401 W. Empire Sioux Falls, Scandinavian Designs, Grand Sakwa/ Huntington LLC
9541, 4441 Lemay Ferry Rd St. Louis, Landlord, N/A
9577, 1731 Belle Isle Ave Oklahoma City, Landlord, Ollie's Bargain Outlet
Watch: The rise and fall of Toys R Us