Business & Tech

After Closing, a Hopeful Fresh Start for Borders Site

A mainstay in Snellville since 1997, Borders' exit will mean an empty big-box retail space, but officials are optimistic that the space won't take so long to fill.

(Editor's Note: This article was originally published July 21, 2011.)

Equity One, property manager for the Presidential Markets shopping center in Snellville, is optimistic and moving forward with efforts to find a replacement for its exiting Borders tenant.

The 22,300-square-foot building is one of the largest spaces at Presidential Markets, which is located along the 1900 block of Scenic Highway. Borders, the current tenant, will be closing within the next two months. The liquidation process, which usually means deeply discounted merchandise, will begin on Friday.

Reached Wednesday, Equity One officials said they do not currently have possession of the building at 1905 Scenic Highway, but that when they do, they plan to move fast. The company has already been marketing the site somewhat "in anticipation of the divesting" of the Borders company, said Bob Mitzel, Equity One regional president for the Southeast and North Florida.

"We're moving forward to see what we can do," Mitzel said, adding that Equity One doesn't have any solid, potential tenants to speak of at the moment.

The bookstore's corporate parent announced final liquidation plans on July 18. The Snellville location is one of the few remaining open stores in metro Atlanta. Stores in nearby Lithonia and Tucker will also be closing.

"I was hoping that they were going to keep open a few," said Tony Laspisa, a Snellville resident who shopped at the Snellville Borders on Wednesday. "That's terrible. It'll probably end up being a dollar store."

Not if Mitzel can help it.

"It's such a great property," he said. "We will certainly manage through and make it something that complements our tenant mix out at that very high-end property."

"Hopefully," he added, "we can do something with it real quickly."

Losing Momentum?

Borders lasted in the spot for 14 years, having opened in the fall of 1997. At the time, it was one of the first Borders to open in Georgia -- No. 4. Now, it's one of the last to close.

"It's very sad to see that they're closing," said Joan Miller, co-president of the Snellville Commerce Club. "I guess that it really doesn't have anything to do with Snellville. They're closing them all over the place."

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Yes, in spite of the death of Borders, the Snellville store sits at one of the area's busiest shopping destinations with several other big-box stores, including Publix; Bed, Bath and Beyond; TJ Maxx, Ross and Marshall's. Carmike Cinema is also located in Presidential Markets.

According to data from Equity One, the population of the center swells to more than 50,000 people during the daytime.

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Across Ronald Regan Highway, there sits an old, overgrown BP lot, which will be a Verizon Wireless store within the next year. In addition, a McDonald's will soon occupy the old Fuddrucker's site at 1915 Scenic Highway. And, nearby, a Del Taco recently received a building permit at what used to be Fazoli's at 1895 Scenic Highway.

What's happening with Borders, doesn't slow down Snellville's momentum, said Eric Van Otteren, the city's economic development manager. There are things happening in Snellville that other city's hope for, he added.

"That's a good site, where the Borders store is, and we'll get another opportunity there," Van Otteren said. "We wish it weren't happening, but it's a reality of the (economic) market we're in."

No Time Frame Yet

Mitzel did not comment on the length of time it could take to fill the store spot, nor how much lower the rent might be given the shaky economic climate.

But, it could be months, if not years, before some of these empty bog-boxes are filled. At Snellville's Presidential Markets, there is already three empty storefronts. Empty storefronts mean a loss of jobs and revenue for cities and counties.

"This is an unfortunate occurrence, but's it's not necessarily unexpected," Van Otteren said about Borders. "It's really not a choice we have."

Hopefully, though, it won't take six years to get a new tenant like it did for the BP lot across the street, Van Otteren said.

Until a new tenant comes in, the lot will sit as one of the largest vacant spots in the Snellville area. Folks are sad about the passing of Borders -- dealt the e-market blow -- but with challenges, come opportunities.

Mitzel, who used to shop at the Borders in East Cobb, will miss the bookstore giant, as well. He liked the store for the ambience, he said.

"It's just the change of the times," Mitzel said.

Snellville store employees could possibly know more about their final working days on Friday, the same day the liquidation process starts.

All remaining 399 Borders will close by the end of September. At Snellville, a store manager said the location could close sooner or later, depending on how quickly merchandise sells.

"I went by there yesterday," said Miller, the Snellville Commerce Club co-president. "We're going to miss them."


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