Bed Bath & Beyond’s real-estate adviser has announced plans to auction hundreds of the home-goods retailer's and affiliated retailer Buybuy Baby’s leases.
Bed Bath & Beyond Inc.’s bankruptcy could have major implications for industrial and commercial real estate, experts say.
On Tuesday, Bed Bath & Beyond’s BBBYQ real-estate adviser A&G Real Estate Partners announced plans to auction hundreds of the home-goods retailer’s and affiliated retailer Buybuy Baby’s leases as part of the company’s Chapter 11 bankruptcy. According to CoStar’s data, 85% of the distribution space that Bed Bath & Beyond occupies in the U.S. is in properties built after 2005 that are larger than 500,000 square feet. “This is high-quality, big-box distribution space,” Ponsen said, adding that some markets have a pressing need for that type of center. He cited in particular Las Vegas and northern New Jersey, where Bed Bath & Beyond has three and two distribution centers, respectively.
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