Barnes & Noble had previously been an occupant of the Bay Terrace Shopping Center until its closure in 2015. Construction is set to begin within the next 60 days on its new location, which will occupy the former Express space.
A new lease with Barnes & Noble had been approximately two to three years in the making, according to Cord Meyer Development. Cord Meyer Development was interested in bringing back Barnes & Noble based on the iconic bookstore’s newer, smaller concept designs.
The new location is expected to span around 10,000 square feet, which would take up less space than the previous store’s 17,000 square feet.
The lease agreement with Barnes & Noble reflects Cord Meyer Development’s multi-million dollar investments to enhance and modernize the Bay Terrace Shopping Center. This also includes the addition of three residential buildings off of 26th Avenue, which will combine for 145 housing units when completed.
“It’s kind of a full-circle moment for the retailer and for us at Cord Meyer. After COVID, we were left with several vacancies that were the result of a bankruptcy,” Cord Meyer Development Vice President of Leasing Matthew O’Grady said. “It was an opportunity for us to reposition the shopping center. We had these visions to create restaurant row, we had the vision to bring in a large format health club, which is opening this summer, we had the vision to add residential to the project, which we’ve broken ground on. All these things are happening at the same time, and this is what we envisioned four or five years ago. It’s the same for Barnes & Noble. They closed a lot of stores around 2015, and they’ve rebuilt their brand. They’re coming back in a big way. They have plans to open 60 stores in 2027. It’s a great use for the center. It’s experiential. It’s family-oriented. Kids love the concept. We’re trying to be a community hub where families and the community come to gather, shop, dine, live and play.”
Cord Meyer Development is optimistic that these investments will help attract a dynamic mix of tenants while also maintaining the shopping center’s position as a vibrant community destination.
Work on the store is currently in the design phase, with permitting to follow. Once that is done, construction will start. A targeted delivery date for construction is set for the end of October, before Barnes & Noble gets the store prepared, which would likely be done by the start of spring 2027.
“With the changes that are happening at the shopping center, sometimes things take a little bit longer than the general public would like to hear, but it’s because we’ve been very focused and conscious about our tenant fits,” Cord Meyer Development Vice President of Development Joe Forgione said. “There’s high demand for the shopping center even though we’ve had vacancies post-COVID, but we’re being very conscious about what tenants we want to put and where. Part of that is a long negotiation and then a short time of build-out with the tenant to get a space that really works for them.”