Business
9:34 am
Sat February 9, 2013

Former Borders headquarters in Ann Arbor sold

ANN ARBOR, Mich. (AP) - The former Ann Arbor headquarters of bookstore chain Borders Group has been sold.

The Ann Arbor office of Colliers International tells The Detroit News that the buyer requested a confidentiality agreement, so no name was publicly disclosed. Colliers International is handling the sale.

The 330,000-square-foot headquarters was listed last year for $6.9 million.

Borders fell victim to increasing competition from online retailers, discounters and e-books and filed for bankruptcy protection in 2011. It later liquidated its assets and closed stores across the country.

Borders opened its first store in 1971 in Ann Arbor.