Thursday, May 19, 2011

Industry News: New England

Cinemagic gained the Greenland, NH Planning Board's approval to construct a 49,000 s/f 12-screen theater and IMAX complex on Route 33...Tiffany & Co. will close its shop at the Atrium Mall in Newton and move across the street to the Mall at Chestnut Hill. Tiffany will operate its Atrium shop until the new location opens around October...Simon Property Group will assume leasing, management, and marketing of the Fox Run Mall in Newington, NH The company has ownership interest in 16 Massachusetts malls including Burlington Mall, Copley Place, Northshore Mall, and South Shore Plaza...Smoothie King opened its first Massachusetts location on Newbury Street. The privately held franchise company sells fruit smoothies infused with vitamins...TD Bank plans to open as many as 15 more Massachusetts branches by the end of 2012, and is considering relocating several branches and adding standalone automatic teller machine kiosks. TD Bank currently operates 1,250 branches in 15 states including 160 in Massachusetts...The relocation of  Stop & Shop’s New England division headquarters from the Braintree back to Quincy Center is slated to be done by early July. Employees will move to Quincy from other locations as well. Stop & Shop and parent company Ahold USA expect to have as many as 950 employees in the Quincy tower by year’s end. The company will add several gas stations to the 68 currently in New England. The next station will open in Quincy later this year. Stop & Shop is continuing to refurbish stores, with 20 locations scheduled for upgrades this year. Stop & Shop plans new stores in Andover and Cranston, RI, a relocation of its Chelmsford store, and a complete replacement of its Hyde Park store. Next year, Stop & Shop will open a second store in Pembroke. In related news, Street-Works LLC, The company that is redeveloping Quincy Center, wants to add 750,000 s/f of retail, office and commercial space to the project . The company says it will complete the project by 2020, with the first step completed by 2013...Lord & Taylor will open at the Mall at Rockingham Park in 2012. The store will be the only Lord & Taylor in New Hampshire, Vermont and Maine.There are three Lord & Taylor stores in New England, with the nearest in Burlington, MA. Lord & Taylor also will open a new store in New York City next year. Lindt Swiss chocolatier opened its newest factory outlet store at the Meadow Brook Crossing plaza in Amherst, NH...Gershman, Brown, Crowley has purchased the former site of Eastern Chem-Lac Corp. in Malden, MA. The buyer will develop a 13,000 s/f CVS on the parcel after razing the existing building.

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