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Toys R Us building sold for $1 million

By Michael Harrington • May 24, 2019 at 1:00 PM

PERKINS TWP. — A Lima-based company purchased the former Toys R Us building on Milan Road for $1 million.

According to the Erie County Auditor’s website, MEF Properties LLC bought the property near Lowe’s on May 15.

The Perkins Township Zoning Department hasn’t received any plans for the location yet and hasn’t commented on what may soon occupy the old Toys R Us building.

MEF properties' address, however, is the same address as an Ashley Furniture store in Lima and the man who registered the business license with the Ohio Secretary of State owns several of the furniture stores. The owner could not immediately be reached for comment on Tuesday. 

Toys R Us Inc. purchased the land in 1994 and operated a store at the location for more than two decades.

But in 2018, the New Jersey-based toy distributor closed all 740 of its U.S. locations after it filed for Chapter 11 bankruptcy due to $5 billion in debt it amassed while trying to compete with online retailers and other brick-and-mortar stores.

In recent weeks, the “Toys R Us” letters have been removed from the building’s facade and workers were seen inside the property on Monday.

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