Toys "R" Us Property Company I, LLC is a real estate holding subsidiary of Toys "R" Us, Inc., the world's leading specialty toy retailer. The company owns or leases 311 U.S. store locations—145 owned and 166 subleased from third parties—operated under the Toys "R" Us, Babies "R" Us, Toys "R" Us Outlet, and Toys "R" Us Express brands. Headquartered at One Geoffrey Way, Wayne, New Jersey, it serves as the primary domestic real estate vehicle for the parent enterprise's ~1,600 stores across 49 states and 38 countries.