OAKLAND — The Barnes & Noble bookstore at Jack London Square will close its doors Jan. 31, the Ellis Partners development company said in a statement Monday.

"As we all know, the book business has been hit hard in recent years by competitive pressures," Ellis Partners, Jack London Square's developer, said in a statement. "Following extensive talks, Jack London Square and Barnes & Noble made the mutual decision to pursue a new tenant for the location."

David Deason, vice president of development for Barnes & Noble, released a statement saying, "After having been at our Jack London Square location for almost 17 years, the store has reached the end of its lease, and as sales have declined over the last few years, it has reached a point where it can no longer be operated in a viable fashion."

The store's departure leaves a question as to what will replace the bookstore in one of the square's most prominent sites. The Barnes & Noble building was one of four buildings the Port of Oakland sold to developers Hal Ellis and James Falaschi for $17.2 million in 2001 to continue the development of the area.

Ellis Partners said it has been in talks with potential tenants.

"The departure provides us with an opportunity to further our vision for the new Jack London Square," the company said. "We are already in talks with a number of possible tenants whose businesses directly align with Jack London Square's identity as a

Staff writer Angela Hill contributed to this story.