Thursday, July 17, 2014

New England Industry News

Walmart broke ground last month on a 155,000 s/f store at Route 28 and Tobey Road in Wareham, MA that will replace its 20-year-old 125,000 s/f location on Cranberry Highway. Scheduled to open next year, the new WalMart will include a full grocery store along with pharmaceuticals and a full general merchandise section...The Reading, MA Walgreens has closed for good. Walgreen Co., the nation’s largest drugstore chain, announced in March it would close 76 unprofitable stores around the country in the second half of the fiscal year. The company has 8,210 stores nationwide...Room & Board, a furniture chain which specializes in what it describes as modern American-made furniture, opened its first New England store on Boston’s Newbury Street, Room & Board's 14th US location...Men’s apparel retailer Blank Label opened its second Boston store in Downtown Crossing last month, and plans six more new East Coast stores by 2016...The country’s two biggest frozen yogurt chains, Menchie’s and Yogurtland, plan to expand in MA. Yogurtland first opened shops in the area last year, and now has three in Brookline, Cambridge, and Newton, with plans to add 7 to 10 franchised locations within the next three years. Menchie’s opened its first MA shop last month in Mansfield, and plans to add at least 2 stores in the next year or two...Florida-based nightclub operator Latitude 360, a restaurant and entertainment venue with bowling lanes, bar, dance floor, HD sports theater, dine-in movie theater, high-tech game room, and live music, has signed a letter of intent with the Abbey Group, owner of the 615,000 s/f Lafayette City Center in Boston’s Downtown Crossing, for a 63,000 s/f space. Latitude has other locations in Florida, Indianapolis and Pittsburgh, with another under construction in Albany, NY and one planned for the Kingston Collection, formerly known as Independence Mall, in Kingston, MA...The Somerville Redevelopment Authority selected Magellan Development Group to facilitate the $1 billion, 2.3 million square feet of new development along seven blocks in Union Square. The plan comes as the extension of the Green Line into Somerville creates development opportunities...Tastings LLC, which does business as Tastings Wine Bar & Bistro at Patriot Place in Foxboro, filed under Chapter 7 of the bankruptcy code. The move usually results in liquidation...IKEA in Stoughton completed a 58,575 s/f expansion that had begun in September 2013. The building now features 415,575 square feet of retail space...Somerville Brewing Co.’s American Fresh Taproom will be a part of the Assembly Row development’s SomBlox section, which will feature retailers and restaurants in converted shipping containers situated around a beer garden. Opening is planned for August 1...L'Occitane  celebrated its grand opening in Cranston, its first store in Rhode Island. L'Occitane has over 200 stores nationwide...Michaels announced the grand opening of its new Burlington store, featuring a new design, which will replace its current location at Crossroads Plaza...A neighborhood group in Boston’s North End voted to oppose a zoning application that would allow Pomodoro Restaurant to move to a nearly 4,500 s/f building on Hanover St. Pomodoro is unable to renew its lease at its present location.

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