Wednesday, January 16, 2013

Industry News: New England

Nordstrom will open a 30,000 s/f Nordstrom Rack in the former Old Navy space at Maine Crossing Shopping Center in South Portland, Maine, the first in the state…Linear Retail Properties has purchased 2 NH properties, 285 Daniel Webster Highway, a 5,969 s/f Chili’s Grill and Bar, across the street from the Pheasant Lane Mall, and 219 Daniel Webster Highway, a 43,947 s/f development site which was owned by Cumberland Farms…Tribeca APL Boston LLC of London has purchased the Apple store at 815-825 Boylston St., across from the Prudential Tower, in Boston’s Back Bay, for $27.5 million. The 21,348 s/f showcase shop was sold by Heritage Legacy LLC. Apple’s flagship store opened in 2008 and at the time was the company's largest store…Pottery Barn is the latest store to vacate the Atrium Mall in Newton, MA. The store will reopen across Route 9 at The Street at Chestnut Hill (formerly the Chestnut Hill Shopping Center). The only remaining stores in the Atrium include the Cheesecake Factory, Restoration Hardware and Gretta Cole spa…Developers of 1265 Main St., the former Polaroid site in Waltham, have announced tenants for the 280,000 s/f mixed-use plaza, including Market Basket, Starbucks, Marshalls, TD Bank, Bonefish Grill, and Jake-n-Joes Sports Grille. Construction of these 6 store spaces should begin by late March or April, with projected partial occupancy of by the end of 2013...Alliara LLC has paid $31.6 million for a 27,796 s/f retail and apartment building at 18-28 John F. Kennedy St., in Harvard Square, Cambridge, MA. The building includes 16 apartments and 12,150 s/f of ground floor retail housing Papyrus, Uno Chicago Grill and Vitamin Shoppe...The owner of Precious Memories Inc. has moved its Malden bridal salon to a new store that’s more than 4 times larger than its previous location, a 10,000 s/f space at 1256 Eastern Ave…Lasalle Hotel Properties has acquired a majority interest in Boston’s 298-room luxury Liberty Hotel, formerly the site of the Charles Street Jail, through a $170 million joint venture with the property’s original developer and co-owner, Carpenter & Co. of Cambridge. The hotel will continue to operate under the Luxury Collection franchise. It includes 5 bars and restaurants, including Clink, the Liberty Lobby Bar and Catwalk. Two others, the Alibi Bar & Lounge and Scampo, are leased by the Lyons Group. LaSalle owns 40 hotels, including the Hyatt Harborside, Westin Copley Place and Onyx Hotel in Boston. Carpenter & Co.’s portfolio ranges from the St. Regis Hotel in San Francisco to the Charles Hotel in Harvard Square, Cambridge…A federal judge warned attorney Shannon Liss-Riordan, a lawyer for former Upper Crust workers, about potential ethics violations in her pursuit of the bankrupt chain’s lease assets. Judge Henry Boroff denied an attempt by to buy leases for 4 shuttered pizzerias in the South End, Lexington, Watertown and Wellesley which are slated to be sold. Liss-Riordan represents Upper Crust workers in a separate class-action wage dispute lawsuit, and teamed with an investment partner on the winning bid for the chain’s Harvard Square lease at auction…Sunnyside Realty Group LLC, an affiliate of Rubicon Real Estate, has purchased the 16,000 s/f Sunnyside Plaza at 915-947 Worcester Street in Natick, MA for $5.8 million. Tenants include includes Bank of America, Supercuts, Red Wing Shoes, Doctors Express and Oga’s restaurant...A new, local pharmacy will open later this month in Winchester, MA at the site of the former Winchester Drug. CVS, which had appeared to be interested in the site, passed on it...Katz Properties has purchased the 31,677 s/f Wayland Village Plaza, a suburban strip mall at 297 Boston Post Rd. (Route 20) in Wayland, MA for $6.3 million. The center is anchored by Whole Foods Market. NAI Hunneman represented the seller.

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