Tuesday, April 24, 2012

Industry News: New England

Boating supplies retailer West Marine will open a new 25,000 s/f flagship store at the intersection of Route 1 and Spencer Plain Road in Old Saybrook, CT, its largest location in that state. West Marine has more than 310 company-owned stores in 38 states…Trader Joe's is eyeing a fall opening at The Crossings at Fox Run, Newington, NH. The Newington Planning Board gave its approval to Trader Joe's plan to take over the former Pet Quarters location at the center. Currently, Seacoast shoppers have to travel to MA or ME for the nearest Trader Joe's…Clover Fast Food Inc., the popular food truck operator with multiple locations in Boston and Cambridge, is leasing a 275 s/f sidewalk space from the MBTA on the back side of Hynes Station at 354 Newbury St. Clover was the sole bidder for the tiny space on a section of sidewalk near Massachusetts Avenue…Market Basket will open at Westgate Mall this spring. The store will occupy 80,000 s/f of a new 92,000 s/f free-standing addition to the mall…Bank of America plans to close four MA branches. BofA had said it plans to close 750 of its 5,700 branches nationwide...The three Gap stores at the Pheasant Lane Mall have closed as the company prepares to open a Gap Outlet store in the new Merrimack Premium Outlets mall in June. In October, the company said it planned to close 189 locations, about 21% of its US Gap stores, by the end of 2013. Over the same period, it plans to open 50 or so Gap Outlet stores.The Gap Outlet at Merrimack Premium Outlets, a 430,000 s/f mall near Exit 10 of the Everett Turnpike, will be the first in New England...Linear Retail Properties has bought 2,865 s/f of retail space, including the garden and first-floor levels, at 304 Newbury St., and retail locations on the lower levels of 346-354 Congress St. Linear now owns 11 properties in Boston. Regionwide, the firm owns 60 retail properties...Thomas Kershaw, owner of the Hampshire House and 75 Chestnut restaurants and 2 Cheers locations, will open a new restaurant as part of the Liberty Wharf development, a 1,500 s/f Northern Avenue location…Vibram opened the company’s first US store dedicated to its glove-style sports shoe known as FiveFingers at 292 Newbury St. The 1,200 s/f store features test centers where customers can walk in the unusual footwear…New Balance will open America’s second New Balance Experience store at 583 Boylston St. this month...Best Buy stores in Boston and Wareham, MA will close as part of the retailer’s plan to shutter 50 stores nationwide

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