North Carolina: Bankruptcy Auction of Bed Bath & Beyond Data Facility

May 11, 2023 | Posted by Abdul-Rahman Oladimeji

Bed Bath & Beyond's North Carolina data center was put up for sale during its bankruptcy asset sale. Bed Bath & Beyond Inc.'s real estate advisor, A&G Real Estate Partners (A&G) revealed intentions to auction hundreds of tenancies last week. A&G plans to sell 475 Bed Bath & Beyond and buybuy Baby retail leases nationally, nine distribution warehouse leases, and a data center the retailer holds in Claremont, North Carolina, in cooperation with JLL Commercial Real Estate. Bed Bath & Beyond Inc. filed voluntary Chapter 11 in April 2023. The 1971-founded corporation had 1,500 US outlets in 2019. In recent years, the corporation has shut down storefronts and sold units due to Covid-19 and dwindling revenues. Since January, it had warned of bankruptcy and disclosed $5.2 billion in debt in its Chapter 11 filing.

Catawba County stated in 2012 that Bed Bath & Beyond Inc. would develop a $36.8 million data center in Claremont's 48,000 square foot (4,460 sqm) Center Point shell facility at 2436 Penny Rd in the Claremont International Business Park. An earlier sales brochure proposed two build-to-suit data centers adjacent to the existing facility, but none has been completed. Microsoft has also been acquiring land in Catawba County to build data centers there.