Iconic Co-op Bookstore slashes prices ahead of closure
The owners of the family-run Co-op Bookstore are planning to sell the store after more than 80 years in business in the LSU area.
The property has been on the market for months, though owner Bob Prescott remains tight-lipped about plans and specific closure date.
The property—a 27,000-square-foot freestanding building at the Southgate Shopping Center—is currently priced at $2.975 million, according to online marketing materials. Original asking price was $3.975 million.
Noting declining book sales, Prescott says he and his brother are selling the store because they want to retire. “Nobody’s buying books,” he says.
Barnes & Noble Bookstore on Highland may have siphoned some of the business from the store, the owner says. The chain’s location, which opened in 2012 next to the LSU Student Union, is the official bookstore for the university.
The store has been slashing prices to dump as much of the remaining inventory as possible, Prescott says, and the building is getting “good interest” from potential buyers.
Co-op opened in 1933 and was formerly located on Chimes Street. The owners moved into the current location at 3960 Burbank Drive in 2004.