Bed Bath & Beyond Inc. sold about 2.1 million square feet of commercial real estate space to an affiliate of private equity real estate firm Oak Street Real Estate Capital LLC for more than $250 million in net proceeds.

The home furnishing retailer leased back the assets, which include retail stores, a distribution facility and office space, under long-term leases.

Bed Bath & Beyond may reinvest the proceeds into its core business operations/ongoing business transformation initiatives to advance growth, fund stock buybacks, or cut outstanding debt. The company said it continues to review options for some of its remaining owned real estate.