As Toys ‘R’ Us closes Arizona stores, brokers move quickly; Eric Termansen, Founding Partner & President of Western Retail Advisors, comments on adaptive reuse or charter schools

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Landlords and developers are eyeing the Toys ‘R’ Us store properties in Arizona after the retailer announced it would close or sell all of its U.S. stores. 

The toy retailer filed for bankruptcy last year, and it will clear out 182 stores nationwide. In Arizona six out of the 18 stores will be emptied. What happens to these empty stores mainly depends on market demand, experts said. 

“Toys “R” Us is located in regional locations and power centers. Those generally are the easiest to lease because almost everybody can go there,” said Dave Cheatham, the president of Velocity Retail Group, a full-service retail commercial real estate company in Phoenix. 

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“With the circulation, visibility and parking, these locations would be a good fit for many charter school operators.”

~Eric Termansen, Western Retail Advsors 

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