Bankrupt Bed Bath & Beyond has chosen bidders for leases at its 109 retail locations in the U.S., including its Northwest D.C. store in Columbia Heights, which went to Burlington Stores.
Burlington will pay $12 million for 44 leases at former Bed Bath & Beyond locations. It includes another in Midlothian, Virginia.
Burlington has not confirmed immediate plans for the stores it will take over. The Washington Business Journal reported the company could open a Burlington store at the Columbia Heights location by Labor Day, citing the property’s landlord, Grid Properties.
The Columbia Heights location was among the first retailers to open at the big DC USA shopping complex at 3100 14th Street NW, the largest retail development in the District.
Burlington would join several other big-box retailers at DC USA, including Target, DSW, Petco, Best Buy and Marshalls.
Discount grocer Lidl opened its second D.C. location at DC USA earlier this month.
Bed Bath & Beyond had about a half dozen stores in the D.C. metro area. The only other area store on the list of leases the company sold was in Woodbridge, Virginia, with the winning bidder listed as Parkway Crossing East SC — The Parkway Crossing East shopping mall where the store was located.
The Bed Bath & Beyond leases were auctioned of as part of its bankruptcy proceedings. Burlington was the largest single taker. A&G Real Estate Partners, which conducted the lease auctions, said the former Bed Bath & Beyond stores were in desirable locations with high visibility and traffic.
