Alameda Town Centre, aka South Shore, is losing one of its biggest tenants, and Alamedans are losing a book-friendly place to hang out.
Borders announced Wednesday that it entered bankruptcy proceedings, which entail the closing of about 200 of its 642 stores nationwide by April 30, 2011. This will lead to about 6,000 of the company’s 19,500 employees losing their jobs, according to various news reports.
Borders will be closing a long list of stores in California, including 12 in the Bay Area.
For Alamedans, this could mean longer check-out lines at the Alameda Free Library, though it should bring more foot traffic and hopefully rising sales to local book stores, like Books Inc. And for those looking for parking space near Borders at Alameda Town Centre, this situation could get a bit easier until a new tenant is found.
But for the new owners of Alameda Town Centre, of course, the Borders’ closure means a big drop in rent. (Jamestown Properties of Atlanta recently bought the shopping center for $181 million from Harsch Investment Properties.)
While some Alamedans have commented online that they will miss the Island’s Borders, many Bay Area residents say that they buy much of their reading material online today — and that they hope “mom and pop” shops will benefit from this development.
The closest store to Alameda that will be open after April 30 is in Emeryville.