The flagship Toys "R" Us store in New York City's Times Square is closing.
The store's lease expires at the end of January 2016 and is not being renewed, according to Brad Mendelson, vice chairman of retail services at Cushman & Wakefield, the real estate firm marketing the property.
"They did not renew subject to their option. That was their choice," Mendelson said. The building's owner is already talking to other retailers, he said.
Toys "R" Us spokeswoman Linda Connors acknowledged that the lease expires next year but didn't confirm that it is not being renewed. "We have been reviewing our lease renewal options," she said.