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| B&N's current location in Philadelphia's Center City. | |
The flagship Barnes & Noble store in Center City in Philadelphia, Pa., is moving from 1805 Walnut St. to 1708 Chestnut St., the Philadelphia Inquirer reported.
The bookstore will relocate from a two-story, 24,000-square-foot space facing Rittenhouse Square to a two-story, 19,000-square-foot space on Chestnut Street that previously housed a Forever 21. B&N will pay lower rent at the new location, though exact terms have not been disclosed.
The Inquirer noted that B&N is not the only retailer to change locations within Center City in pursuit of better leasing terms. And while some Center City businesses, including the 70-year-old Joseph Fox Bookshop, closed permanently during the Covid-19 pandemic, the shopping district is starting to see a "better than expected" recovery. As of June 2022, retail sales had recovered to 94% of pre-pandemic sales, with restaurant sales at 74%.