Regional discounter buys seven Toys 'R' Us locations
Ocean State Job Lot has purchased six former Toys “R” Us locations and has agreed to a long-term lease at a seventh in New York, New Hampshire, Massachusetts, and Pennsylvania--a new market for the discounter.
The acquisitions will put the Rhode Island-based retailer’s store total at close to 140.
The deal comes at a time when the 41-year-old family-owned company is looking to enhance its in-store customer experience with larger, brighter stores. Each space has an average footprint of 40,000 sq. ft.
"In an ever-changing retail environment where many retailers are struggling, Ocean State Job Lot has been able to adapt, enter new markets, re-open closed storefronts, and create new job opportunities,” said Marc Perlman, CEO of Rhode Island-based Ocean State.
The seven store locations are:
Massachusetts:
• 105 Campanelli Industrial Drive, Brockton
• 492 State Road, North Dartmouth (lease)
New Hampshire:
• 16 Veterans Memorial Parkway, Salem
New York:
• 122 East Route 59, Nanuet
Pennsylvania:
• 980 Bethlehem Pike, Montgomeryville
• 409 Scranton Carbondale Highway, Scranton
• 620 Kidder Street, Wilkes-Barre
The acquisitions will put the Rhode Island-based retailer’s store total at close to 140.
The deal comes at a time when the 41-year-old family-owned company is looking to enhance its in-store customer experience with larger, brighter stores. Each space has an average footprint of 40,000 sq. ft.
"In an ever-changing retail environment where many retailers are struggling, Ocean State Job Lot has been able to adapt, enter new markets, re-open closed storefronts, and create new job opportunities,” said Marc Perlman, CEO of Rhode Island-based Ocean State.
The seven store locations are:
Massachusetts:
• 105 Campanelli Industrial Drive, Brockton
• 492 State Road, North Dartmouth (lease)
New Hampshire:
• 16 Veterans Memorial Parkway, Salem
New York:
• 122 East Route 59, Nanuet
Pennsylvania:
• 980 Bethlehem Pike, Montgomeryville
• 409 Scranton Carbondale Highway, Scranton
• 620 Kidder Street, Wilkes-Barre