Toys “R” Us (Wayne, N.J.) will close its Times Square flagship when its lease expires next January, according to CNN. While the company did not confirm the closing, a representative for Cushman & Wakefield (New York), the real estate firm marketing the property, confirmed the retailer will be vacating the space.
Toys “R” Us, with more than 1500 stores globally and 13 in New York, N.Y., has occupied the 110,000-square-foot location between 44th and 45th Streets for 16 years. The store is a popular tourist attraction, featuring a roaring 20-foot T-rex, a life-size Barbie dollhouse and a 60-foot ferris wheel. Space on the ground floor rents for $2500 per square foot, per year.