Chapters bookstore to close after 2 decades on Whyte Avenue
After two decades at the corner of Whyte Avenue and 105th Street, Chapters Strathcona is shutting down.
The bookstore chain will not be renewing its lease and that location will be closing in a few months, after "over 20 wonderful years," said Kate Gregory, a Chapters spokesperson, on Monday.
"Though this was a difficult decision, we are dedicated to the community," Gregory added. The retail chain will continue to operate 15 Indigo, Chapters, Coles and Indigospirit locations in Edmonton, as well as online.
Competitive landscape
The growth of online retailers — notably Amazon — which is set to open its second warehouse in Alberta next year in Nisku, has created concern for some bricks-and-mortar retailers, said Chad Griffiths, a partner at NAI Commercial Real Estate, a brokerage that follows commercial real estate trends in Edmonton.
The competitive landscape, coupled with "upward momentum" on rental rates in the area, poses serious pressures, he said.
"So they've got downward pressure on customer demand and they've got upward pressure on rental rates," Griffiths said.
Griffiths has been a shopper at the Whyte Avenue Chapters for the past ten years, and said it was usually busy.
"It's a pretty iconic location," Griffiths said. "There's always people in there and there's always people in line."
Chapters will be leaving the building in January, said landlord John Wanchulak, vice president of leasing and sales for the Delcon Development Group.
The new tenant, Winners, will be taking up the space in October next year, he said.
A spokesperson for the department store chain said it will not officially announce a new location until closer to the intended opening date.
"When opening new stores, we tend to announce our plans when we believe the time is right to do so competitively," spokesperson Jordan White said.
