The massive Toys R Us store in Times Square, New York, closed its doors for the final time on Wednesday.
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‘It’s a one-in-a-million type of place, ‘ said Janet Roman, of Berlin, Connecticut, as she gave her nine-year-old grand-nephew, Sherman Williams, his first – and last – tour of the over-the-top store.
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Toys R Us opened in Times Square in 2001, when the neighborhood was still only a few years removed from its bad-old-days as a center for adult entertainment and grime.
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There are still Toys “R” Us locations in New York City, including five in Queens, three in the Bronx, two in Brooklyn and two on Staten Island.
Toys ” R”Us, the world’s leading retailer dedicated to toy and baby products, now has 865 stores in the USA, and 750 worldwide stores and more than 250 licensed stores in 38 countries.
Also highly missed will be the 20-foot animated T-Rex and the life-size Barbie doll house. Shoppers rushed to buy must-go gifts and games. “It’s an afternoon”, his wife, Lisa said.
The lease for the store expires in January and the company made the decision to not renew it to save on what is paid in rent, said a spokesperson.
While the company is finding a new location to set up its Manhattan flagship store, it plans to retain over 350 employees, who were associated with the closed outlet. “Rent has gone from $400-a-square-foot to $2,000 in the last 15 years when they rented the space”.
“You can tell they haven’t restocked the shelves”, said his friend Breanna Pavenski from New Jersey.
The savings likely will be substantial said the law firm that leases the property for owners Bow Tie Partners.
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As for the abandoned Times Square location, Gap is taking over part of the space.
