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Saturday, Oct. 25, 2014

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University identifies local business for Nassau St. property

Princeton Running Company will expand its current operations at 108 Nassau St. by leasing space at 110 Nassau St. that was formerly leased by Micawber Books.

The University assumed responsibility for identifying a new tenant for this property as part of its efforts to sustain a strong continuing retail presence on Nassau Street following Micawber's closing earlier this spring.

As announced last fall, the University has purchased the former Micawber's property at 112-114 Nassau St. The Princeton University Store and Labyrinth Books@Princeton are currently renovating that space and the adjacent space that was recently vacated by Foot Locker and Children's Place. The U-Store will open a satellite store featuring apparel and insignia merchandise, while also maintaining its current location at 36 University Place as a student-oriented department store. Labyrinth, an independent scholarly and general interest bookstore, also will provide books for courses at the University. Both stores are expected to open in November 2007.

All of these properties will remain on the borough tax rolls.

University Vice President and Secretary Robert Durkee said, "The University became involved in this project for two principal reasons: to encourage an excellent independent scholarly bookstore to open in Princeton following the closing of Micawber's and to sustain an active retail presence on Nassau Street. We are very pleased that the project will allow an existing local retailer to expand, even as it also brings Labyrinth and a satellite location for the U-Store to downtown Princeton."

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