Quote:
Originally Posted by porkupan
And on and on and on... Laying off booksellers, cutting inventory, cutting hours, closing stores. In New Jersey they are closing every store that came to the end of its lease. The one nearest to my house, in Marlton, had been around for like 30 years. Always rather crowded. Closed. I cannot believe they were losing money in Princeton! Closed.
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Commercial leases in NJ are too high for many businesses to remain. My local Borders is still open but the property taxes for the small 4 store shopping center is $335,000/yr. Add insurance, maintenance and snow removal etc and you get high rents.