Toys R' Us To Move Its Time Square Flagship Store?!?

The Commercial Observer reports a rumor that Toys R' Us has opted not to renew it's lease when it expires next February for their 110,000-square-foot flagship New York Time Square store. It is being reported that the asking rent on the ground floor in the 150,000-square-foot building is $2,500 per square foot, $150 per foot on the lower level and $350 a foot on the second floor, which is about double of what TRU paid when they signed their initial lease on the place back in 2000.

While the store makes for a great attraction for tourists visiting the Big Apple for the first time with the stores fully functioning indoor Ferris wheel, 4,000-square-foot Barbie dollhouse and life-size T-Rex dinosaur, the store itself is not really any better stocked than any other Toys R' Us store, and from a purely shopping experience, it is somewhat annoying to navigate with it's multiple floors. This store was in place purely for marketing purposes and with the hiked up rent it's no surprise that TRU which is now a privately owned entity is looking for other options. Multiple reports suggest TRU will still maintain a presence in the area and simply be moving down the street. In this day and age of struggling toy sales, lets hope they take that money they save in rent from this location and put it back into improving product selections and prices.