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More vacant space…in Lebam, WA July 26, 2011

Posted by Erik Swanson in Articles, Research/Data, Retail News.
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Most of us by now have heard that the Borders Group, the second largest bookstore chain after Barnes & Noble, announced last week that they were abandoning bankruptcy protection plans after failing  to find an investor. This means the closure of nearly 400 stores (after already closing 200 earlier this year) and subsequent loss of roughly 11,000 jobs. While the writing has been on the wall for some time, the announcement is yet another blow for battered landlords who just beginning to enjoy renewed tenant interest. And large, two store retail boxes might be tough to re-lease.

Now, in blow to small  town landlords, the U.S. Postal Service has announced the closure of 3700 locations, including 39 in Washington State alone.  Two locations in downtown Seattle will be closed but most of the remaining locations appear to be in rural towns…by the way, where are Marlin, Wishram and Lebam? Anyway, in these smaller towns where there is no post office branch, the USPS may pursue a “village post office” concept whereby they will locate limited services within grocery stores or gas stations. The Puget Sound Business Journal lists the local closures here and there’s more from the Wall St. Journal article here.

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