Tuesday, July 24, 2012

Industry News: New England

Australian skin care company Aesop will open a Newbury Street boutique in August, its third US location. Aesop has stores in New York Australia, Paris, London, Zurich and Asia…Saks Fifth Avenue OFF 5TH will opened a store in the Merrimack (NH) Premium Outlets. The retailer has 62 stores…The Harvard Square theater , now known as AMC Loews Harvard Square 5, will permanently close its doors in July. The theater opened in 1926 with 1,700 seats and a huge 40-foot screen. AMC Theatres said the theater will be sold as part of an effort to improve the quality of the AMC theater chain...Furniture and accessories retailer Room & Board has signed a lease for an entire 39,000 s/f building at 407 Newbury St. in Boston, the chain’s first New England shop…Clarke’s, the bar at South Station, will be replaced with a 25,000 s/f two-level CVS…Celebrity chef Bobby Flay will open a 72-seat Bobby’s Burger Palace at the Burlington (MA) Mall in Burlington, Flay’s first Massachusetts restaurant…Pottery Barn, Swedish children’s apparel retailer Polarn O. Pyret, and Treat Cupcake Bar, will open at the Chestnut Hill (Newton, MA) Shopping Center, in spring 2013 in a new building at the site of the former Macy’s...A Connecticut franchiser who has bought the rights to open Smashburger restaurants for all of Middlesex County, plans to open 12 restaurants over the next 7 years...The T.J. Maxx in Avon CT will close this month. TJX plans to close about 10 stores this year while adding about 50…Lululemon Athletica has purchased the building at 337 Newbury Street where it opened its second Hub store in March...Guitar Center will open its second Boston store this fall in the space vacated by Daddy’s Junky Music at 165 Massachusetts Ave. The company has a store behind Fenway Park on Boylston Street...iParty will open new stores in Waltham, MA and Plaistow, NH. When these stores open, iParty will have 54 stores in New England and Florida. The company is headquartered in Dedham, MA...Stone River Properties LLC has purchased the 16,791 s/f Marrett Square retail shopping center on Route 2A in Lexington, MA for $2.52 million. Marrett Square is occupied by Anton’s Cleaners, Boston Nail & Spa, Blue Vintage Salon and Royal Pastry...After months of questioning whether IKEA will finally build in Somerville's Assembly Square, the company has formally backed out of the development. IKEA owns a 12-acre parcel and holds permits to build a 340,000 s/f store at the retail and residential development – but the site remains bare. Now, the Swedish discount retail giant has sent a letter to Somerville Mayor Joseph Curtatone, backing out of the project for good.

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