Lease signed for former Borders location

A new tenant will soon be moving into the site of a former Borders bookstore location in the Chestnut Hill section of Philadelphia.

Eileen Reilly, the neighborhood’s retail recruiter, said a lease has been signed for the space at 8701 Germantown Ave. Reilly could not confirm the tenant’s identity, but said it is not a retailer.

A call to Acadia Realty Trust, who owns the building, was not immediately returned.

The property, which sits along Chestnut Hill’s commercial corridor, has sat vacant for nearly two years. Interior demolition work is currently underway and is scheduled to be completed by the end of the week.

It’s unclear when the new tenant will take over.

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