Paperback Exchange Has Secured a New Minneapolis Home
The bookstore has found a new location following a devastating 2025 flood that destroyed its original shop.
Updated on Oct. 8, 2026 in Openings & Closings
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Paperback Exchange has officially secured a new location at 5000 Oliver Ave in Minneapolis. The move follows the permanent closure of the original store at 50th and Penn after a burst pipe caused significant flooding in February 2025.
Why it matters
The relocation allows the long-standing business to resume operations after the original building was lost to a water main break. The store will continue its model of accepting used books for trade credit.
The shop, which originally opened in 1975, previously held over 150,000 titles before the flood. The new location is situated at 5000 Oliver Ave.
The players
Paperback Exchange
A long-standing Minneapolis bookstore that operates by accepting used paperbacks for trade credit.
The details
The business owners discovered the new space after the property's previous owner offered their condolences regarding the flood. The new shop is expected to maintain a size comparable to the original store that suffered damage.
Timeline
1975: Paperback Exchange opened at 50th and Penn.
February 2025: A burst pipe flooded the bookstore building.
October 8, 2026: The news of the new location was reported.
Market Landscape
The reliance on community-driven financial support highlights the vulnerability of local independent bookstores facing major infrastructure failures. This move preserves a longstanding retail footprint in the Minneapolis market while navigating the challenges of property loss.
Regular customers can look forward to the return of the shop's trade-in model at the new location. The successful fundraiser ensured the business could afford to secure a new space and replenish its inventory.
The takeaway
Community support can be a vital lifeline for small businesses struggling to recover from sudden property disasters. Supporters are reminded that the store will continue its mission of facilitating book exchanges at its new site.
Further reading
Learn more about local business changes in the Minneapolis Openings & Closings section.
Source note: This article includes information reported by Axios.
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