Fairfield U. Taking Over Old Borders' Space

Fairfield University is taking over nearly all of the space once occupied by Borders Books and plans to open an off-campus bookstore with a cafe and computers, the owner of the downtown building said Tuesday.

"It's the new wave, having a university bookstore off campus," said Al Kleban, a Fairfield developer who purchased the two-story, 80,000-square-foot building at the corner of Post and Reef roads from developer Louis L. Ceruzzi, Jr. in May 2004 for $11.1 million. "The university is certainly an integral part of the town, and this is happening all over the country."

Kleban said the bookstore would be open to the general public and would include books found in a traditional bookstore, computers and a cafe. He said the university was taking over the entire first floor that Borders had occupied, the basement, and half of the second floor once used by Borders. The other half of the second floor is being leased to a corporate tenant, Kleban said.

Kleban said Fairfield University had a 10-year lease for the space.

"It's very exciting," Kleban said, adding that Fairfield U.'s upcoming bookstore was the most exciting development for Fairfield in his 60 years of working in commercial real estate.

Fairfield University is scheduled to formally announce its upcoming bookstore at a press conference scheduled for 10 a.m. Wednesday at the old Borders' site, 1499 Post Road.

Borders had anchored the downtown building, which also includes national retailers such as Victoria's Secret, Ann Taylor Loft, Chico's and Banana Republic, before it closed last spring, a victim of Borders' Chapter 11 reorganization.

University officials early Tuesday afternoon declined comment until Wednesday's press conference, which they said would be attended by the Rev. Jeffrey von Arx, Fairfield U.'s president; First Selectman Michael Tetreau; and representatives from Fairfield's Chamber of Commerce and Kleban Holdings, LLC, which owns the downtown building.

Kleban was widely credited by town officials several years ago with landing The Gap and Old Navy as tenants in a shopping center on Black Rock Turnpike in Fairfield, instead of discount stores, after Steinbach's, a former department store, closed and its lease was up for sale. Kleban stepped in and bought out the old Steinbach's lease in bankruptcy court. Town officials also credited Kleban with redeveloping the Brick Walk Shopping Center at the eastern edge of downtown Fairfield, among other properties owned by his LLC.