Bed Bath & Beyond Sells Some Real Estate as Part of Turnaround
Pedestrians walk past a Bed Bath & Beyond store in New York.
Photographer: Mark Kauzlarich/BloombergThis article is for subscribers only.
Bed Bath & Beyond Inc., the home-goods retailer mired in a lengthy sales slump, rose after selling some real estate in a deal that generated net proceeds of more than $250 million.
The properties represent about 2.1 million square feet of space, including retail stores, a distribution facility and offices, the company said Monday. It is leasing back the space in the transaction with an affiliate of Oak Street Real Estate Capital. The properties are located in Texas, Florida, New Hampshire, California and New Jersey, among other states, and include the company’s headquarters in Union, New Jersey.