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Plaza Las Américas retains control of former Borders space

Borders bookstore closed its flagship Plaza Las Américas location after filing for bankruptcy last year.

After several months of waiting for a decision, the U.S. Bankruptcy Court in New York overseeing the Borders liquidation case granted Plaza Las Américas’ petition to retain control of the space the bookstore held at the Hato Rey mall prior to going out of business.

The mall is now in a position to negotiate a future rental agreement of the 34,000 square-foot prime location, News is my Business learned.

“Several companies have approached us and expressed interest in this area and we’re currently not ruling out any alternative in the category of the concept or the amount of stores that may eventually establish themselves there,” said Rafael Ruiz-Comas, director of corporate leasing for Plaza Las Américas.

However, the executive did not reveal the names of the potential new occupants of the space that has been empty since September 2011.

Plaza’s statement comes on the same day that a local daily newspaper reported that a group, which unsuccessfully put in a bid at the U.S. Bankruptcy Court for the two-story space, could be opening a Borders Puerto Rico bookstore in Caguas.

Author Details
Author Details
Business reporter with 30 years of experience writing for weekly and daily newspapers, as well as trade publications in Puerto Rico. My list of former employers includes Caribbean Business, The San Juan Star, and the Puerto Rico Daily Sun, among others. My areas of expertise include telecommunications, technology, retail, agriculture, tourism, banking and most other segments of Puerto Rico’s economy.

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