Commercial Real Estate Investors Richart Ruddie & The Alamo Group close on Five Old Toys R US' Locations that are being re-purposed.

OLYMPIA, WASHINGTON, USA, December 16, 2021 /EINPresswire.com/ -- Silverdale, Washington has new tenants coming along with new owners now that the TRU Portfolio sale has been completed. Commercial real estate investor Richart Ruddie along with Don Gaube of the Alamo Group closed on the deal in late November after due diligence for the environmental review and the buyers were fully vetted the portfolio was cleared for closing.

The property consists of five former Toys R’ Us locations with over 90,000 square feet of commercial real estate space for lease. National tenants such as Planet Fitness, Harbor Freight Tools, Dollar Tree, Taco Bell and McDonalds.

Where some see despair others see opportunity and time and time again this is proving to be true. 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.

The investment group led by Don Gaube specializes in purchasing Value Add Opportunities throughout the country. The TRU portfolio consists of properties in Silverdale, Kennewick, and Olympia in Washington State as well as properties located in Southern California East of Los Angeles. “Since the properties are all situated in high growth areas the opportunity to transition former anchor tenants into new age tenants is proving to be a great value add play. New tenants are already signing up to replace the former Toys R’ Us that went out of business in June of 2018.”

This is not the first time this strategy has been implented. Recently the investment group purchased a commercial property outside of Seattle where a former Albertsons and Safeway Grocery store anchored a shopping center. After the purchase was completed Ruddie & Gaube re-tenanted to add value and increase the overall value of that Pacific Northwest property and has since added more to their portfolio.

Since closing there has been a lot of interest from major tenants who are pursuing the space with no fears from Omicron in sight. Since the East Los Angeles property in Victorville is right off of interstate 15 the investors see this property increasing in value with their strategy over the next 24 months.

Don Gaube
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Alamo Group

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