Monday, August 18, 2014

New England News

Eastside Marketplace, an upscale supermarket in Providence, RI has been sold to a subsidiary of Ahold USA. Eastside Marketplace employees and management team will remain in place, running the business as Eastside Marketplace...The building that once housed Filene’s Basement on Needham Street in Newton has three tenants lined up. The building encompasses 36,988 s/f of retail space and a three-story garage at 215-227 Needham Street Jonathan’s Restaurant, which closed last April, will become a Five Guys Burgers and Fries. The space next to that is slated to become a Men’s Wearhouse, and PetSmart is slated to to open in December. All leases were negotiated by KeyPoint Partners, and KPP will sell the property via Milano, a cosmetics brand from Italy, will open its fourth US location in New Haven's 1 Broadway retail district at York St. and Broadway...The independent members of Market Basket’s board of directors have issued their third statement, asking everyone to come to an agreement to rebuild the chain. The statement echoes many of the sentiments of earlier statements which implored workers to return to the chain’s 71 stores and invited Arthur T. Demoulas to play a non-CEO role in stabilizing Market Basket as he continued negotiations to buy it. Massachusetts and New Hampshire governors Deval Patrick and Maggie Hassan have stepped in to the ongoing negotiations over the long-drawn-out Market Basket dispute that has put a multibillion-dollar company and tens of thousands of jobs at risk in both states, in an attempt to broker a deal between the warring Demoulas family factions. According to a statement, “the governors are encouraged that a resolution may be within reach.”..Legal Sea Foods will close its 8,500 s/f Prudential Center location in January as Boston Properties prepares to expand the Pru complex, although Legal will likely reopen in a new location there once construction is done. Last month, Boston Properties won approval to add 16,000 s/f of retail space to the Shops at Prudential Center.

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