Monday, October 27, 2014

New England News

Urstadt Biddle Properties Inc. sold the 328,000 s/f Five Town Plaza Shopping Center in Springfield to an institutional real estate company for $31 million...WS Development has signed a 20-year lease with Kerasotes ShowPlace Theatres for a 41,375 s/f movie theater at One Seaport Square, a new development slated for South Boston’s Seaport District...The Best Buy attached to the Westfield Meriden Mall will close Nov. 1. The closing will leave the mall down two major tenants weeks before peak holiday shopping months: in May, JC Penney closed its under-performing store in the Mall...West Marine opened a new store at the corner of Coogan Boulevard and Maritime Drive in Mystic, CT. The 13,000 s/f store replaces the 8,000 s/f location at the nearby McQuade's Marketplace complex...Best Buy is closing its store at Boston’s Landmark Center, an early step in the new development to come in the Fenway area...Normandy Real Estate Partners and Harbinger Development plan to build a 10-story, 225-room hotel and a two-story glass food pavilion on Parcel 9, between Blackstone Street and the Rose F. Kennedy Greenway, next to the outdoor Haymarket vendors...Panera Bread opened of its newest bakery-cafe in Seabrook Commons, at 700 Lafayette Road, Seabrook, NH...The Presque Isle, ME Sears store at the Aroostook Centre Mall, including the auto center, will close its doors by mid-January. The store will begin a liquidation sale on Oct. 31... Popeyes Louisiana Kitchen is looking to triple its number of Boston area locations. The chain entered Massachusetts in 2005, and now has 8 locations in the Boston metro area. It wants to add another 15- 20 over the next 5 years. In 2013, Popeyes opened 124 US restaurants. The company ended 2013 with 2,225 locations...The Revere, MA Market Basket store has opened. The 80,000 s/f location has been ready for months, as has another in Attleboro. but infighting over the last year kept either store from opening as planned. The conflict also delayed construction on another forthcoming store in Waltham.

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