Thursday, August 25, 2011

Books-A-Million to Acquire Borders Leases

Publishers Weekly has reported that Books-A-Million has agreed to acquire 14 Borders leases provided that a deal can be concluded by August 30 (next Tuesday). If the deal is approved by the bankruptcy court, BAM will be broadening its national footprint by opening its first stores in New England and as far west and north as South Dakota and (exciting for me) Wisconsin.
The following stores are part of the deal, with the first number in parenthesis representing square footage and the second number representing how much BAM paid for the store:
#89 Columbia Crossing, Columbia, MD (28,000; $45,394)
#125 Bangor Mall, Bangor, ME (25,881; $54,364)
#133 Maine Mall, South Portland, ME (30,000; $168,757)
#136 The Strip, Canton, OH (30,000; $103,803)
#138 Oak Point Plaza, Eau Claire, WI (23,960; $41,114)
#168 Grand Traverse Crossing, Traverse City, MI (20,000; $71,672)
#193 Wrangleboro Road, Mays Landing, NJ (20,000; $55,583)
#292 Northridge Shopping Center, Davenport, IA (25,000; $41,629)
#334 Edwardsville Crossing, Edwardsville, IL (21,996; $42, 566)
#340 Fort Eddy Plaza, Concord, NH (31,889; $87,951)
#369 Haines Avenue, Rapid City, SD (20,000; $42,566)
#394 Valley Square Center, West Lebanon, NH (22,015; $58,820)
#442 Viewmont Mall, Scranton, PA (22,960; $49,874)
#524 Waterford Commons, Waterford, CT (22,824; $69,780)
Books-A-Million is the third largest book retailer in the nation and also sells on the internet as The company presently operates over 200 stores in 23 states and the District of Columbia.

It's exciting to know that bookstores will continue. I was beginning to worry with a giant like Borders closing, and the indies closing one by one, that our new generations would not get to experience the euphoria that is experienced when one walks into a bookstore. Yes, I understand that that sounds hypocritical of me, as I sell books online. But I do patronize and support my local brick-and-mortar bookstores frequently. Come to think of it, I also get that euphoric feeling walking into the library. Man, I really have a problem. I kid. I just LOVE books. Bibliophiles unite! 

I'd love to hear what you think of this story. Or if you have the ever-loving-book problem I have. Or just a hello in the comments. Have a great Thursday.

Happy reading,

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