Wednesday, October 19, 2016

New England Retail News

Boston’s second Trader Joe’s, the first within city limits to sell alcohol will open in Allston next year at the Continuum, a 335,000 s/f residential/retail project 219 Western Ave.  The first Boston Trader Joe’s opened in 2001 in Back Bay. Trader Joe’s operates 18 MA stores. Nationwide, the company operates 455 stores in 41 states...H&M closed its 35,000 s/f store in Boston’s Downtown Crossing. H&M has stores on Newbury Street and in Cambridge...Krispy Kreme is opening 3 stores in Maine and 4 in New Hampshire under the franchise name NH Glazed LLC. The first will be completed this fall... Fast casual chain Cosi, Inc. filed voluntary Chapter 11 petitions in the US Bankruptcy Court. There are currently 45 company-owned and 31 franchise restaurants...Nordstrom Rack opened last month at Braintree (MA) Marketplace in part of the building that had housed a K-Mart store. Also moving into the building is a Saks Off 5th Outlet store, which should be open in time for the holiday shopping season...L.L. Bean will establish its first urban location outside Maine in November. The retailer will open a 150 s/f  kiosk in the Shops at Prudential Center in Boston, selling Bean Boots as well as a selection of outerwear and accessories. The company has three Boston-area stores, in Burlington, Dedham and Mansfield... Sephora opened its 16th Boston area store this month, a 3,800 s/f store will open at the Van Ness, a mixed-use development on Boylston St. The Van Ness includes a 232,000 s/f office and 174-unit residential tower atop a 165,000 s/f retail base anchored by Target...Rita’s Italian Ice and frozen custard opened its first MA location in Chelsea this month. The company has over 600 US locations around the country. Roxbury native Patricia Shelton plans up to 30 Boston area locations...Wegmans signed a lease for a 120,000 s/f store in Medford’s Meadow Glen Mall, to open in fall 2017. There are Wegmans locations in Burlington, Chestnut Hill, Northborough and Westwood, and plans for stores at the Natick Mall and Boston’s Landmark Center... Ohio-based REIT Phillips Edison grew its Bay State footprint with a purchase of the 732,000 s/f Hanover (MA) Mall from CWCapital. The regional mall opened in 1971 and was modernized in 2004. Tenants include Sears, Macy’s, Walmart’s, Office Max, Petco, Sleepy’s and Trader Joe’s. A 59,000 s/f stand-alone Dick’s Sporting Goods store opened in 2012 and Buffalo Wild Wings opened in an outparcel earlier this year.

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