Faced without a potential bidder to save the bankrupt bookstore, Borders Inc. is planning to close eight additional Massachusetts locations.
DJM Realty, a Gordon Brothers Group company, has been retained to manage the disposition of all remaining Borders Group and Waldenbooks real estate in the country. Among the leases to hit the auction block is the one for the store at Downtown Crossing, the largest Borders store in the nation. Also to be auctioned off are leases for stores in the CambridgeSide Galleria, Legacy Place in Dedham, Mansfield Crossing, Marlborough, Methuen, North Attleborough and Kingston.
Borders Group Inc. operated more than 900 stores in the country prior to its Chapter 11 bankruptcy protection filing in February.
"This group of Borders’ stores has generated very strong interest from retailers. With a lack of new real estate development and restrictive barriers of entry in several key markets, surplus real estate like Borders becomes a very good opportunity for a number of growing retailers looking to open for business during the next four to 12 months," said Andy Graiser, co-president of DJM Realty. "It is not every day a portfolio becomes available which includes premier real estate sites in northern and southern California, the cities and surrounding suburbs of New York, Illinois, Texas, the north east corridor and mid-Atlantic states."
The 259 remaining leases that are available for assignment in this bankruptcy disposition range from 10,000-40,218 square feet, according to a statement.





