Reply to Barnes and Noble Bethesda Avenue Closing end of 2017

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[quote=Anonymous][quote=Anonymous]A lot of information is not publicly known about the original lease and the alleged rent increases and decreasing sales.

Barnes and Noble across the country put out a mandate to negotiate lower rents due to sagging sales.  The one thing B & N is good at is PR, They are tossing the blame on Federal Reality and making them look bad in in an effort to have local leaders and residents put pressure on them like the did in NY when they were closing a store there that eventually became an Saks off 5th.

[/quote]

What I heard is B&N had a 20-year lease, due to expire 12/31/16. When they signed the lease 20 years ago, the renewal terms were negotiated then.

When it came time to renew, B&N wanted to deviate from that agreement (lower the rent). FR wanted to stick with the existing deal. Thus, B&N did not renew. FR did not push them out.

I think where FR is not thinking strategically is B&N is the anchor tenant of that whole area. For example, we go there on weekends and buy kids books, then go eat lunch at restaurants that are part of that complex, like Nando's. If B&N isn't there, we'll have no reason to be in that complex at all and eat elsewhere.

For us, when our kids want a B&N fix, we'll now just go to Tysons. Just then I get suckered in to paying $5/head for that little train ride in the food court.[/quote]

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