Book Center to sign new lease

The popular Pennsylvania Book Center has not yet signed a lease for a new location in the 3401 Walnut Street complex, although a deal could come as early as today, University and store officials said yesterday. The news contradicts a report last week in an official University publication that the independent bookstore had already inked a deal to move into a new location. Both Tom Lussenhop, the University's top real-estate official, and Book Center owner Achilles Nickles said they expect to sign a lease today for the former location of Sam Goody in the 3401 Walnut Street complex. Students and professors have long prized the Book Center -- a campus landmark for 35 years -- as a source of used and out-of-print books. Many professors prefer to place textbook orders through the Book Center rather than the official book store. Although Lussenhop said the University had not yet actually signed the lease, he said he believes the "terms of the lease have been completely negotiated and the document just needs to be signed." Nickles also said that he thinks the contract will be signed today. Under the terms of the deal, the Book Center would remain in its present location -- near the corner of 38th and Walnut streets -- through the beginning of the fall semester. The store will likely move to its new location in November, Nickles said. The September 3 issue of the Pennsylvania Current reported in a back-page "Campus Buzz" column that "the Pennsylvania Book Center has finally signed a lease that will keep the store on campus," citing no sources. The Current is a biweekly publication the University created last winter to provide a mix of news and features to the Penn community. Current Editor-in-chief Libby Rosof said she will not run a correction to the story because "it's our understanding that they really have a deal going." "I don't think it's significant, whatever is holding it back," Rosof said. The lease also requires the Book Center to have longer evening and weekend hours, a clause that has become a standard for campus retailers as Penn works to increase evening foot traffic in the University City area. The store's future seemed doubtful after the University's announcement that it would demolish the store's longtime location at 38th and Walnut streets to make way for a new Wharton School building. The Book Center rejected Penn's initial offer for a location in the strip mall on the 3900 block of Walnut street because Nickles felt the rent posed insurmountable financial obstacles for his store. Penn's offer of the space in the 3401 Walnut Street complex came after months of negotiations this year.

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