EagleTribune.com, North Andover, MA

New Hampshire

January 9, 2010

Salem loses one bookstore, but gets another

One bookstore closes, another to open as commercial real estate inquiries appear to be perking up

SALEM — The closure of a discount bookstore will pave the way for a more permanent tenant in one of Salem's large retail buildings, and other empty spots may be filling up soon.

Strictly By the Book at 290 South Broadway always was meant to be a temporary tenant, town planner Ross Moldoff said. The sign for Linens-N-Things, which occupied the space before the national chain went out of business in late 2008, still is partially visible beneath a plastic sign advertising books.

Moldoff said the owners of the property have found a more permanent tenant, but the deal had not been finalized so he could not say what store will be moving in.

"It's great news for the owner of the property," he said. "It's great news for the town of Salem."

The building, which includes a Petco store and the vacant CompUSA store, is owned by New York City-based CP/IPERS Salem LLC. A phone number for that company could not be located yesterday.

While one bookstore is closing, another one will open soon. The former Furniture World at 419 South Broadway will soon be home to a Used Book Superstore, which is slated to open Feb. 5. That store had been vacant since 2007.

The store is owned by Got Books, a for-profit used book seller that sells donated books online and in stores in Burlington and Danvers. They will also open a new store in Nashua, according to their Web site.

The property is owned by Boston-based Taurus Management. Moldoff said the new bookstore seemed to be intended as a permanent use for the property.

Moldoff said he has been fielding more calls in recent weeks from people interested in becoming tenants in some of the town's vacant commercial real estate.

"That seems to be picking up from the end of last year," he said.

But, he added, most plans are tentative at this point. "Until they come in for a building permit, we just don't know for sure," he said.

Moldoff said the town has been trying to do whatever it can to fill empty spots.

"The Planning Board has been very positive about trying to help get new tenants in some of these buildings," he said.

Denis Buckley of Salem, who was shopping at the Petco next to Strictly by the Book yesterday, said seeing that store empty was not a surprise. He said he has always noticed some vacancies in the 33 years he lived in Salem, but the last two years he has seen many more.

"I just think that this has become the way of the world," he said. "You don't know what is going to be here."

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