Borders to Close 200 Stores, Hires DJM Realty to Dispose of Real Estate

MELVILLE, N.Y., Feb. 17, 2011 /PRNewswire/ -- Borders Group, Inc., a leading specialty retailer of books as well as other educational and entertainment items has retained DJM Realty, a Gordon Brothers Group Company, to manage the disposition project of approximately 200 underperforming stores.  Borders which recently filed for Chapter 11 to restructure its operations and debt will continue to remain fully operational and open for business as usual during this process. The engagement of DJM Realty is subject to bankruptcy court approval.

The 200 leases that are available for assignment in this bankruptcy disposition range from 12,895 - 42,770 square feet and are available in the following locations: Alaska (1), Arkansas (1), Arizona (8), California (35), Colorado (6), Connecticut (6), District of Columbia (2), Florida (16), Georgia (5), Hawaii (2), Illinois (16), Indiana (6), Kansas (2), Kentucky (2), Louisiana (2), Massachusetts (6), Maryland (3), Michigan (4), Minnesota (4), Missouri (6), Montana (1), North Carolina (5), New Hampshire (1), New Jersey (4), New Mexico (2), Nevada (1), New York (9), Ohio (7), Oklahoma (2), Pennsylvania (9), Puerto Rico (2), Tennessee (1), Texas (10), Utah (2), Virginia (5), Washington (2) and Wisconsin (4).

"Borders' real estate has begun to create interest among retailers, supermarkets and non-retailer users. The available portfolio offers a unique mix of mid and big box locations with long lease terms and strong retail co-tenants. Numerous properties are located in markets that are very difficult to enter, including northern and southern California, the cities of New York, Chicago, Dallas, Atlanta, Boston and their neighboring suburbs," said Andy Graiser, Co-President of DJM Realty.

DJM Realty has worked with over 290 companies to dispose of their excess or underperforming real estate. DJM Realty is a leader in finding innovative ways to consolidate and reconfigure real estate to achieve the highest possible value. For more information regarding the disposition assignment please contact James Avallone of DJM Realty at (631) 752-1100 x224 or [email protected] or Emilio Amendola at (631) 752-1100 x223 or [email protected]. Property details are available at www.djmrealty.com.

About Borders Group, Inc.

Headquartered in Ann Arbor, Mich., Borders Group, Inc. is a leading specialty retailer of books as well as other educational and entertainment items. Online shopping is offered through borders.com. Find author interviews and vibrant discussions of the products we and our customers are passionate about online at facebook.com/borders, twitter.com/borders and youtube.com/bordersmedia. For more information about the company, visit borders.com/media.

About DJM Realty

DJM Realty, a Gordon Brothers Group company, specializes in negotiating occupancy costs, lease renewals, real estate dispositions, facilitating growth opportunities, valuations and capital solutions.  DJM Realty has serviced the nation's most recognizable brands in healthy and distressed situations.  Bankruptcy clients have included BI-LO, Blockbuster, Circuit City, Linens N Things, Movie Gallery, Gottschalks, Goody's Family Clothing, KB Toys, Kmart and Winn-Dixie. DJM Realty is a leader in finding innovative ways to consolidate and reconfigure real estate to achieve the highest possible value. DJM Realty was founded in 1992 and is headquartered in New York with offices in Los Angeles, Boston and Chicago. For more information, please visit www.djmrealty.com.

SOURCE DJM Realty