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Borders News: Corporate Headquarters For Sale; Hires Back Popoff, Reassigns Some Executives

October 5, 2010
By Michael Cader

The Ann Arbor, Michigan building which houses Borders‘ corporate headquarters is for sale, listed by owner Agree Realty for $18.349 million (or approximately $40/square foot.) Borders still has 12 years remaining on its lease, though the company has started subleasing some of its rented space. According to filings, 27 percent of Agree’s $34 million in rental income (approximately $9.26 million) comes from 17 leases to Borders. Local real estate experts told AnnArbor.com that that the listing of the Borders headquarters “appears to be a step toward diversifying a real estate portfolio that’s heavy on three major tenants.” And spokeswoman Mary […]

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Filed Under: Bookstores, Personnel

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