Last Updated on February 18, 2023 by The HD Post Staff
VICTORVILLE – The Alamo Group and tech entrepreneur Richart Ruddie purchased five former Toys R’ Us locations, including the Victorville store, with the goal to repurpose properties while delivering great value.
“While old big box anchors and enclosed shopping malls have been failing and going out of business, great entrepreneurial minds are finding new opportunities and ways to repurpose and re-tenant these properties and deliver great value while also creating new job opportunities,” said Alamo Group Owner Don Guabe.
The former Toys R Us store in Victorville permanently closed its doors in the summer of 2018 – one of 735 stores to close nationwide. After filing for bankruptcy, the company disclosed that it had about $5 billion in debt and was spending about $400 million a year just to service it.
The TRU portfolio purchase, completed November 2021, included the 5 former Toys R’ Us locations, along with Planet Fitness, Dollar Tree, Taco Bell and McDonalds – 90,000 square feet of commercial space available to re-tenant.
According to the Alamo Group, the Victorville property has high visibility from I-15 and 202’ of frontage on Amargosa Road which both have high traffic counts. Strong demographics include a daytime population of 87,415 residents within 3 miles. National retailers surround this property, including big box co-tenancy.
