Babies R Us Making Stateside Return at American Dream Mall
By Mark Hallum January 11, 2023 4:57 pm
reprints
Babies R Us is aiming for a U.S. rebirth.
The brand is planning a comeback starting with a new, 10,000-square-foot store at the American Dream megamall in East Rutherford, N.J.
Babies R Us will join the 20,000-square-foot, two-level flagship store of its sister brand Toys R Us in the American Dream mall that opened last year. Since being acquired by WHP Global in 2021 after filing for bankruptcy, Toys R Us has been going through renaissance as the parent company has worked to re-establish a brick-and-mortar foothold.
“Since acquiring both the Babies R Us and Toys R Us brands in 2021, our mission has been laser-focused on bringing them back to America,” Yehuda Shmidman, CEO of WHP Global, said in a statement. “We achieved that mission for Toys R Us by opening our global flagship at American Dream and through our landmark partnership with Macy’s. Our plan to open Babies R Us at American Dream in the coming months is a huge milestone in the return of Babies R Us to the U.S.A., and it sets the stage for a national rollout of Babies R Us in the future.”
American Dream and WHP Global did not disclose the asking rent, the length of the lease or names of any brokers involved.
The Baby R Us store is expected to open this summer, according to Women’s Wear Daily, which first reported the news.
“Following the success of the Toys R Us flagship, which opened just over a year ago, we are thrilled to see Babies R Us back in the U.S. as part of the unparalleled retail experience that can only be found at American Dream,” Don Ghermezian, CEO of American Dream and owner Triple Five Group, said in a statement.
The long-delayed American Dream’s success has been less than a pleasant fantasy, however, with financial trouble and leasing momentum souring the mood after a nearly 20-year construction process.
In August, Triple Five missed a required $8.8 million interest payment on bonds issued by the Wisconsin-based Public Finance Authority on behalf of the New Jersey Sports & Exposition Authority. Over the course of 2021 the mall lost nearly $60 million, Commercial Observer previously reported.
Mark Hallum can be reached at mhallum@commercialobserver.com.
