A data center owned by Bed Bath & Beyond is up for sale in North Carolina amid the company’s bankruptcy asset sale.
A&G Real Estate Partners (A&G), in its capacity as real estate advisor to Bed Bath & Beyond Inc., this week announced plans to auction hundreds of Bed Bath & Beyond and its subsidiary buybuy Baby leases as part of the retail company's Chapter 11 filing process.
A&G will be auctioning 475 Bed Bath & Beyond and buybuy Baby retail leases nationwide, as well as nine leases for distribution warehouses, and marketing a data center that the retailer owns in Claremont, North Carolina in partnership with JLL Commercial Real Estate.
Bed Bath & Beyond Inc. filed for voluntary Chapter 11 in April 2023. Founded in 1971, the company had more than 1,500 stores across the US as recently as 2019. However, in the wake of Covid-19 and declining sales, the company steadily closed stores and sold off units in recent years. It had been warning of potential bankruptcy since the turn of the year and declared $5.2 billion of debt in its Chapter 11 filing.
Catawba County first announced that Bed Bath & Beyond Inc. would be building a $36.8 million data center in Claremont in 2012 inside the 48,000 square foot (4,460 sqm) Center Point shell building at 2436 Penny Rd in the Claremont International Business Park.
Further details on the data center or the sale weren’t available at the time of writing. DCD has reached out for more information.
According to an old sales brochure, two build-to-suit data centers were previously being offered that would have been built adjacent to the existing facility, but neither has been developed yet.