Business

The Durham Toys R Us building has a new tenant

Hamrick's, a South Carolina-based discount fashion retailer, will be coming to the old Toys R Us building in Durham.
Hamrick's, a South Carolina-based discount fashion retailer, will be coming to the old Toys R Us building in Durham. Courtesy of Samco Properties

The former Toys R Us building in Durham will have a new tenant later this year.

Hamrick's, a Gaffney, S.C.-based discount fashion retailer, will be filling the 47,300-square-foot building, said Sam Spiegel, president of Samco Properties, the property's landlord.

It will be Hamrick's second location in the Triangle. The retailer also has a store on New Bern Avenue in Raleigh.

Samco Properties regained control of the Toys R Us lease earlier this month. The landlord beat out Big Lots for the control of the lease, after it was auctioned off as part of Toys R Us' bankruptcy proceedings. Samco paid $800,000 for the remainder of the lease after a back-and-forth auction with Big Lots.

Toys R Us filed for bankruptcy six months ago after racking up around $8 billion in debt. Earlier this year, the retailer announced it was planning to sell or close all 800 of its U.S. stores, a move that affected as many as 33,000 jobs. The Durham store began liquidating its inventory at the end of March.

Spiegel, through Durham Westgate Plaza Investors LLC, owns the buildings at Westgate Plaza shopping center. Wells Fargo owns the land underneath the buildings on a long-term ground lease. Westgate Plaza Investors has owned the Toys R Us building since 1999.

He said that he is also interested in adding a quick-service restaurant to one of the outer parcels in the parking lot facing Westgate Drive.

Zachery Eanes: 919-419-6684, @zeanes
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