Tattered Cover's Next Store; Flagship May Furl Some Sails
The Tattered Cover, the famed Denver, Colo., bookstore with three
locations, plans to open another store in the next year or so about a
mile north of its flagship store in the Cherry Creek area. The new
store will be in a development that centers on the
Lowenstein Theatre, an old stage theater on East Colfax that has been
shut for years and is being extensively renovated. The developer is creating space as well for
Twist & Shout, a music store. The Denver Film Society may also be a
part of the development.
At the same time, the Tattered Cover is negotiating with the landlord of its Cherry Creek store, where its main store has been located since 1986, for a new lease and will likely either have less space in the building or vacate it entirely. The current lease ends next June.
"We probably won't have the full store with the five stories we have now, but there's a possibility we might have a portion of that," Matt Miller, general manager of the Tattered Cover told Shelf Awareness. "It's no secret that our business 20 years ago is not the same as it is now." Cherry Creek has high traffic and is very desirable, qualities that have boosted rents. (Besides, as Miller dryly observed, "Usually when leases get renewed, it's not at a lower rate.")
The Cherry Creek store has 40,000 square feet and a full-service restaurant. By contrast, the new space at the Lowenstein Theatre will be about 22,000 square feet. The new neighborhood is "not the same high-end shopping area that Cherry Creek has become," but it's "a really interesting space and can offer the same selection as Cherry Creek," Miller continued. "We feel it will offer book readers and book buyers in Denver a great deal." The store will have free parking, too.
The Tattered Cover also has a 20,000-sq.-ft. store in the Lower Downtown section with a special events space and coffee shop; that store opened in 1994. Exactly a year ago today, the Tattered Cover opened a 22,000-sq.-ft. store in Highlands Ranch, south of Denver. Both stores are doing well, Miller said.
At the same time, the Tattered Cover is negotiating with the landlord of its Cherry Creek store, where its main store has been located since 1986, for a new lease and will likely either have less space in the building or vacate it entirely. The current lease ends next June.
"We probably won't have the full store with the five stories we have now, but there's a possibility we might have a portion of that," Matt Miller, general manager of the Tattered Cover told Shelf Awareness. "It's no secret that our business 20 years ago is not the same as it is now." Cherry Creek has high traffic and is very desirable, qualities that have boosted rents. (Besides, as Miller dryly observed, "Usually when leases get renewed, it's not at a lower rate.")
The Cherry Creek store has 40,000 square feet and a full-service restaurant. By contrast, the new space at the Lowenstein Theatre will be about 22,000 square feet. The new neighborhood is "not the same high-end shopping area that Cherry Creek has become," but it's "a really interesting space and can offer the same selection as Cherry Creek," Miller continued. "We feel it will offer book readers and book buyers in Denver a great deal." The store will have free parking, too.
The Tattered Cover also has a 20,000-sq.-ft. store in the Lower Downtown section with a special events space and coffee shop; that store opened in 1994. Exactly a year ago today, the Tattered Cover opened a 22,000-sq.-ft. store in Highlands Ranch, south of Denver. Both stores are doing well, Miller said.