University of Michigan not interested in Borders store property in downtown Ann Arbor
"The university has no plans to pursue the former Borders space," U-M spokesman Rick Fitzgerald said in an email in a response to an AnnArbor.com inquiry.
Nathan Bomey | AnnArbor.com
The university's lack of interest in the space comes after the University of Chicago announced in July that it had purchased the 25,000-square-foot former Borders building in Hyde Park.
The University of Chicago said in a statement that it "is seeking retail, home goods, entertainment or restaurant tenants for the" former Borders store.
At the former Borders store in Ann Arbor, a repositioning effort is already well underway. Michael Lippitt of real estate firm Landmark Commercial Services told AnnArbor.com last week that Landmark is in discussions with a possible tenant for the space.
“We have received a legitimate letter of intent that we are reviewing,” he said without revealing details. “I hope we can announce it soon.”
Lippitt said it would fit “very, very well” with the needs of the community.
It is unclear whether the tenant would occupy the entire store or just parts of the building, which had served as the flagship Borders store until the company announced its liquidation.