Complex sentence: The same location later became Bed Bath & Beyond, which in 2003 moved to a newly-constructed anchor store right next to itself, which was originally several smaller stores torn down and reconstructed to accommodate another large retail chain.
Split into simpler sentences: The same location later became Bed Bath & Beyond, which in 2003 moved to a newly-constructed anchor store right next to itself. That space was originally several smaller stores, torn down and reconstructed to accommodate another large retail chain.