Thursday, November 17, 2011

Industry News: New England

The Book Shack opened in the former Borders space at the Kingston, MA Independence Mall this month. The Book Shack will sell most of its titles at discounts of up to 60%, and carry best-sellers at 10% off list prices. The owners are reaching out to local book clubs, authors and community theater groups to use a 300-seat theater that will occupy part of the 23,000 s/f store.The space has been vacant since Borders closed in August…Bloomingdale's The Outlet Store opened this month at Wrentham (MA) Village Premium Outlets. The 24,000 s/f store is located on the last remaining buildable parcel fronting the outlet mall. The Bloomingdale's will be one of three such stores opening across the country. It is a division of Macy's, which has corporate offices in New York and Cincinnati and operates about 850 department stores...The building at 350 Washington St. in Boston’s Downtown Crossing which houses T.J. Maxx, Marshalls, H&M, and Town Sports International has been sold for $128 million. Real Estate Capital Partners sold the building to Invesco Real Estate Advisors...39-year-old locally-based music store chain Daddy's Junky Music ceased operations this month. At its closing Daddy's counted 12 stores in 4 states, including locations in Manchester, Nashua, Salem and Portsmouth, NH. The company also has stores in Vermont, Massachusetts and Connecticut...Books-A-Million recently opened its first New Hampshire store in North Conway and will open two more this month in Concord and West Lebanon in former Borders spaces. The expansion into New Hampshire is part of an aggressive growth plan by Books-A-Million in the wake of Borders' shutdown. Books-A-Million operates 232 stores in 24 states, and in just a matter of months has opened or will open 41 more stores in 18 states…RCS Real Estate Advisors has been retained by bridal retailer Priscilla of Boston to facilitate the closing of all 20 Priscilla of Boston locations, effective Dec. 31, by negotiating cost-effective lease terminations or locating replacement tenants. The company announced its closing in September...buybuy Baby opened its first Massachusetts location this month, a 33,000 s/f store at 160 Granite St. in Braintree, replacing the empty Linens ‘n Things store. The subsidiary of Bed Bath & Beyond offers merchandise for newborns to toddlers.

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