SF Cody’s May Close

By Riya Bhattacharjee
Tuesday March 06, 2007

The property housing Cody’s Books at 2 Stockton St. in San Francisco is being marketed to new tenants, raising speculation on whether Cody’s will be moving from the location as well, according to a recent story by Sarah Duxbury in the San Francisco Business Times . 

Andy Ross, former owner and current president of Cody’s Books, did not return phone calls from the Planet on Monday. 

Started by Pat and her late husband Fred Cody in 1956, Cody’s flagship store on Telegraph Avenue was sold to Ross in 1977. Ross added the second store at Fourth Street in Berkeley and a new one in San Francisco. Cody’s on Telegraph closed in July, citing poor sales. Ross sold Cody’s to the Tokyo-based company Yohan, Inc, in September. 

During the announcement, Hiroshi Kagawa, CEO of Yohan, Inc., vowed to strengthen Cody’s. Yohan also bought Berkeley-based Stone Bridge Press last year. 

Leasing agent Cushman & Wakefield have already shown the property to prospective tenants on behalf of the landlord—a Morgan Stanley-managed pension fund—according to Duxbury’s report. 

The Cushman & Wakefield website lists the property size as 21,720 square feet with 2,500 square feet ground floor area and 19,220 square feet basement area. Cody’s occupies approximately 22,000 square feet and is the property’s sole occupant. 

The Business Times also said that Cody’s was paying in the “neighborhood of $600,000 annually.” 

Over the weekend, it was business as usual at the Cody’s Union Square location. Both staff and customers said they were unaware of the report. 

Kazuko Morgan, the real estate contact for Cody’s Books, told the Planet Monday they were looking for tenants for 2 Stockton St. but couldn’t confirm whether it was for the space housing Cody’s.