Toys R Us to Close Downtown Store

By Olin Ericksen
Staff Writer

February 1 -- Efforts to pump street life beyond the Third Street Promenade will have to go on without the city's largest kids' store, after Toys R Us announced last week it would close its Downtown branch in March.

The 52,250-square-foot building at the corner of 4th Street and Arizona Avenue was sold by the toy giant -- which has been downsizing nationally -- to Hollywood based-CIM Incorporated for a reported $24 million, according to press reports.

Any future tenant will likely pay an estimated $4.50 a square foot, according to the Los Angeles Business Journal.

The price, and the size of the building, will likely result in a short list of prospective tenants that could do well enough to make such a rent, Bayside officials said this week.

"The easiest thing for CIM to do is to bring in a strong retailer," said John Warfel, a member of the Bayside District Board, which runs the Downtown. "A strong retailer is the best candidate to come in and do well at that location."

The space, however, is "too small,” for big-box stores such as Walmart or Target, Warfel added.

With the closing of Toys R Us, the city will lose its largest and one of its most moderately priced toy stores. Downtown toy shoppers will now have peruse the aisles of Puzzle Zoo, Cheeky Monkey or Kid Robot.

The closing -- which will not affect co-tenant, Planet Action -- will be a loss for the district, Warfel said.

"It's always good to have a moderately priced toy store in the area," said Warfel. "It brings families down to shop and that's what we want."

The departure of Toys R Us comes as the district embarks on $2.3 million in improvements for Second and Fourth streets that are hoped will lure pedestrians from the Promenade.

The project, which was presented to the Bayside board last Thursday, will upgrade the lighting, trees, crosswalks and handicap access along 2nd and 4th streets between Wilshire and Colorado boulevards.

Last week’s presentation was the first step in a process that will include public hearings before the board and meetings with area merchants to "get initial input before we even start generating alternatives," said architect Lisa Padilla, the principal consultant on the project.

Board members cautioned that the improvements will have to be carefully coordinated with other proposed projects, especially the planned demolition of three public parking structures in the area.

The board should develop a long term plan, rather than "waste our money on something that will soon be torn up," Warfel said at the meeting.

Padilla will continue to gather input and information, which she expects to present to the board with a list of options in April.

After the meeting Bayside Executive Director Kathleen Rawson said it was too early to estimate when the work will take place.

Gene Williams contributed to this report