A former Toys “R” Us store in Racine has been sold for $1.4 million, according to state records.
The seller, an affiliate of a commercial mortgage-backed security trust, originally purchased the property at 2433 S. Green Bay Road among other Toys “R” Us store buildings last fall, six months after the iconic toy retailer filed for bankruptcy and closed its doors.
The affiliate, Charlotte, North Carolina-based Tru Trust 2016 LLC, originally purchased the building for $2.58 million. The property is valued at just under $3.4 million, according to Racine County assessment records.
The property’s new owners, Chicago-based KLA Development Portfolio Owner LLC, could not be reached for comment.
Tru Trust 2016 recently sold at least one other store, a Babies “R” Us location at 2161 Zeier Road in Madison, to the same buyer.
Last March, Toys “R” Us Inc. filed a motion seeking bankruptcy court approval to begin the process of winding down its business and liquidating its inventory at 735 U.S. stores and closed all of its locations. The company operated nine stores in Wisconsin, and about 320 workers in the state lost their jobs due to the closings.
