Bed Bath & Beyond’s recent bankruptcy filing has significant implications for the retail property sector, now that the company has announced plans to close its remaining 480 stores across North America, including 120 retail locations of its subsidiary, Buy Buy Baby.
However, the retailer’s commercial real estate portfolio also includes at least nine leases for distribution space in key logistics hubs across the U.S. The company’s most recent annual reportrevealed that as of February 2022, Bed Bath & Beyond operated 4.4 million square feet of distribution centers.
According to CoStar, this figure has since risen to 6.1 million square feet, mainly as a result of Bed Bath & Beyond’s mid-2022 decision to lease a 1.5 million square foot distribution center at a newly built property in Byhalia, Mississippi, outside of Memphis.
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