Cost Plus World Market Leases Former Borders Location in Simi ValleyThursday, August 16, 2012
Cost Plus World Market has leased the 20,000 sq. ft. retail space left vacant by the closure of a Borders bookstore in Simi Valley’s El Paseo Simi shopping center in a more than $2.8 million transaction.
Michael Schiff, of NAI Capital’s Westlake Village office, represented the landlord, South Street Center LLC, in the deal.
The retailer, which sells eclectic home furnishings, was not the only bidder on the property, according to Schiff.
“We were able to generate a lot of interest and multiple offers on the prominent space previously occupied by Borders, but we felt Cost Plus was the best choice because they complement the center and the tenant mix perfectly,” said Schiff.
The space, just off the 118 freeway at Tapo Canyon Road, has been vacant since the bookstore closed last year.