Toys R Us, long billing itself as the biggest toy store there is-apparently is. The Paramus, NJ-based retailer has inked a 101,000-sf deal for space in Times Square on the corner of Broadway and 44th. The space is being billed as the largest toy-retailing venue in the world. Certainly it’s among the priciest; the annual rent has been valued at roughly $12 million, although neither participant in the deal would confirm or deny the amount. “The number’s wrong,” says Brad Mendelson, the Insignia/ESG Retail Group managing director who brought Toys R Us to the deal, “but it’s not far off.” Retail rents in the district range from $100 to $125 per foot.

What is right, Mendelson tells, is that despite reports of a cooling economy, the entertainment destination shows no sign of slacking. “There isn’t a market in the city–whether it’s retail, commercial or multifamily–that seems to be showing signs of slowing,” he says.

As splashy as the news is, Mendelson reports that the site wasn’t the retailer’s only choice. The Reuters Building was an early contender, but the button-down anchor tenant apparently had issues with the two-million-person-per-year foot traffic that the retailer would draw. As one industry insider told, “they didn’t want it to become the Toys R Us Building.”

“It does create an impediment,” Mendelson agrees. Bow Tie Management represented ownership in the deal.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.