DDR Corp. is closing the chapter on Barnes and Noble in Mohawk Commons so it can start another with a new business in the prime location, officials for the company that operates the mall said.
Barnes and Noble’s pending closure of its Mohawk Commons location, set for June 30, is part of a larger initiative dubbed “Project Accelerate” by DDR Corp., the property company that owns the building, to make way for higher-performing retailers to fill its retail spaces.
The company’s plan involves arranging for companies with below-market leases to terminate those leases early, freeing up stores for new tenants.
“This Barnes and Noble at Mohawk Commons was included in the first phase of Project Accelerate,” Matt Schuler, a DDR spokesperson, said.
No word yet, though, on which stores might take the place of the departing book retailer. Schuler was unable to discuss ongoing lease negotiations. The former Barnes and Noble will be divided into three smaller stores, a decision which was approved by the Town of Niskayuna early last month.
A May 29 press release offered a glimpse of the property company’s potential buyers for the newly vacated space. “Demand for new store growth from retailers such as Nordstrom Rack, Sprouts Farmers Market, Ulta, Whole Foods, Five Below, HomeGoods, Fresh Market, Marshalls, Trader Joe’s, White House Black Market, Gap Factory, Shoe Carnival, PetSmart and Carter’s represent a select group of merchants that DDR is in discussions with to backfill the recaptured locations,” it reads.