Borders Thousand Oaks Will Be Closing in January 2011

Update 11/28/10: Today we stopped by Borders for their going out of business sale. Most everything was 30% to 40% off and there was quite a bit of merchandise in the store at this point. We got there at 11 a.m. and by the time we left around noon it was PACKED. So stop by ASAP if you're looking for a deal. An employee indicated the store will be open through the holidays/new year and there is no new location planned.  As we left we passed by the old, vacant Black Angus and Armstrong Nursery. Black Angus closed in April 2008, following the closing of Hungry Hunter and Marie Callender's that year...though later that year nearby The Oaks Mall completed their major expansion with the opening of Muvico, Lazy Dog Cafe and an entire new 134,000 sq ft outdoor retail section. Enough of that. Go get a bargain!

Original Post Date 11/15/10: Just a reminder that the Borders Bookstore at 125 West Thousand Oaks Boulevard in Thousand Oaks will be closing sometime next January. This VC Star article from July confirms this with a Borders representative.

To me this comes as no surprise ad this 40,630 sq ft store is over 15,000 sq ft larger than the typical sized Borders and the company has experienced net losses for 5 years straight. Borders' stock price (BGP) hovers near an all-time low at just over $1 per share these days.

There's still hope for Borders with recent changes in management but among the ailing economy, a trend towards online sales and plenty of competition (Amazon.com's market valuation is roughly 900 TIMES Borders'...ouch!). While I would hope that Borders opens up another, smaller location somewhere else in town, I won't hold my breath.

On July 13, 2010, the Ventura County Board of Supervisors approved a plan to relocate three county medical services* an co-locate them into the Borders space. They approved a 15 year lease, starting with 9 months of "free" rent (while $6.5 million of tenant improvements are put in place) and subsequently $1.95/sq ft.

*The county medical services to be relocated to the Borders building will include:

Conejo Valley Family Medical Group (Ambulatory Care), currently located at 223 E. Thousand Oaks Boulevard.

Conejo Valley Clinic (Behavioral Health), currently located at 72 Moody Court.

Public Health, Women, Infants and Children program currently located at 80 E. Hillcrest Drive.