The New Retail Thread

[jdrinboston]

^ tbh…while there is certainly an opportunity for a larger project on the L&T site, I do think it would also make a good home for Crate & Barrels’ return to Boylston Street.

 

[Nibbles O’Plenty]

What ever happened with the information that Bloomingdale’s was looking for a Back Bay location? Have not much about that for years. Maybe times have changed for some retail.

 

[jms13]

Define local? (there are still plenty in the burbs). As far as in proximity to Boston (at/within Rt 128) I think it might be down to Burlington and Braintree.
Btw, this news literally follow right after a big NYTimes feature on how they're supposedly doing well now:

How Barnes & Noble Went From Villain to Hero

To independent booksellers, the enormous chain was once a threat. Now it’s vital to their survival. And it’s doing well.

www.nytimes.com

Without knowing anything specifically about B&N but with quite a bit of knowledge about big retail, lease renewals, and private equity ownership:
- At the Pru, I suspect that 2021 was still down 10%+ to 2019, Boston Properties categorically refused to go backwards on rent for the renewal, and private equity isn't in the business of losing money now for an expected future recovery.
- In Framingham, I'd guess they were well over market rent for an as-is retail use given their long tenure there and how lease renewals are dealt with at public and/or growing companies, they either didn't have options remaining or let them lapse due to the numbers and an ownership mandate to get rent in line, and SITE Centers didn't even bother negotiating the second they had an opportunity to redevelop and grab a grocery use, particularly if it's Amazon as the rumor mill is assuming.

 

[Smuttynose]

The Croft School, a private elementary school, is taking over the former Stella Restaurant space on the ground floor of 1525 Washington Street in the South End. This is disappointing because Stella was really the only interesting street-level presence along this stretch of Washington.

This stretch is dead mostly because of the city. The Blackstone School could not have a worse Washington Street presence. It's mostly a giant surface parking lot. The small part of the school that is on Washington is a giant blank windowless brick wall. Across the street is a large 1950-era inward-facing public housing complex, the Salvation Army, and what appears to be an abandoned post office (probably utilized by the housing complex today). About 10 years ago, the City opted to use stimulus funds to simply renovate the housing units instead of attempting to redevelop them into something that would help activate the street a bit.

It's unfortunate because this stretch opens on to to the Blackstone/Franklin Square parks and its currently such a dead space. Immediately north and south there are healthy pockets of activity on Washington.

https://www.boston.gov/sites/default/files/file/2022/01/1525%20Washington%20Street%20presentation.pdf

 

[jklo]

and SITE Centers didn't even bother negotiating the second they had an opportunity to redevelop and grab a grocery use, particularly if it's Amazon as the rumor mill is assuming.

There's a WF store like a quarter mile away. Guess they could move there.

 

[curcuas]

The Croft School, a private elementary school, is taking over the former Stella Restaurant space on the ground floor of 1525 Washington Street in the South End. This is disappointing because Stella was really the only interesting street-level presence along this stretch of Washington.

This stretch is dead mostly because of the city. The Blackstone School could not have a worse Washington Street presence. It's mostly a giant surface parking lot. The small part of the school that is on Washington is a giant blank windowless brick wall. Across the street is a large 1950-era inward-facing public housing complex, the Salvation Army, and what appears to be an abandoned post office (probably utilized by the housing complex today). About 10 years ago, the City opted to use stimulus funds to simply renovate the housing units instead of attempting to redevelop them into something that would help activate the street a bit.

It's unfortunate because this stretch opens on to to the Blackstone/Franklin Square parks and its currently such a dead space. Immediately north and south there are healthy pockets of activity on Washington.

https://www.boston.gov/sites/default/files/file/2022/01/1525%20Washington%20Street%20presentation.pdf

The Blackstone is going to get rebuilt, which hopefully means they'll do away with that parking lot on Washington. They should really use that whole space more effectively.

 

[cburns]

The Blackstone is going to get rebuilt, which hopefully means they'll do away with that parking lot on Washington. They should really use that whole space more effectively.

Probably a "wild pitch," but what about a mixed civil use site? My first thought was Blackstone keeps its Shawmut first floor frontage and is lofted over first floor retail on Washington. That said, I imagine the restrictions of operating under a school could be a deterrent to a lot of businesses.

That got me thinking about the library on Tremont. I'm not familiar with the age of the BPL branch on Tremont St, but imagine building it in that same orientation I described above to tuck "under" the school; this could give Washington Street some interesting street activation on that block.

The city could even sell the parcel at market price on the corner of W Newton & Tremont to help fund the move.

 

[jms13]

There's a WF store like a quarter mile away. Guess they could move there.

Not WF - Amazon Fresh brick & mortar. They have 20-some locations in the US and they are pretty aggressively pursuing spaces between 20k and 40k sf for strategic expansion. They've displaced the other usual suspects (TJX concepts in particular) as every big retail landlord's most desirable new big-name tenant. They are confirmed as coming to the Boston market (to the level of reported by reasonable publications) at locations in Saugus and Braintree, and the broker rumor mill has them less firmly attached to a few other sites in the market (the B&N redev in Framingham, a site in Westborough on rt 9 near the rt 20 interchange, probably others that I've got no knowledge on).

 

[jklo]

Not WF - Amazon Fresh brick & mortar. They have 20-some locations in the US and they are pretty aggressively pursuing spaces between 20k and 40k sf for strategic expansion. They've displaced the other usual suspects (TJX concepts in particular) as every big retail landlord's most desirable new big-name tenant. They are confirmed as coming to the Boston market (to the level of reported by reasonable publications) at locations in Saugus and Braintree, and the broker rumor mill has them less firmly attached to a few other sites in the market (the B&N redev in Framingham, a site in Westborough on rt 9 near the rt 20 interchange, probably others that I've got no knowledge on).

That'd be pretty strange given that it looked like they were retreating from B&M after posting that big loss for their retail business and closed most (all?) of those Amazon branded retail stores.

 

[JS38]

And also their Framingham location at Shopper's World. Are there any local ones left?

There is still a B&N in East Walpole on Route 1 North, large but empty was just there - is it weird a city like Boston is gonna have no major bookstores within city limits, besides maybe Trident on Newbury? Sad but i guess times are thus these days...

 

[jms13]

That'd be pretty strange given that it looked like they were retreating from B&M after posting that big loss for their retail business and closed most (all?) of those Amazon branded retail stores.

I tend to agree, but both strange and happening, unless it's one of the great bait and switches and/or there is yet another about face.

 

[bigpicture7]

There is still a B&N in East Walpole on Route 1 North, large but empty was just there - is it weird a city like Boston is gonna have no major bookstores within city limits, besides maybe Trident on Newbury? Sad but i guess times are thus these days...

Depends on what you define as 'major'. Certainly nothing anywhere near as big as that B&N in the Pru, but the new Porter Sq. Books in the Seaport (Fan Pier) is actually a fairly substantial bookstore, and there's also what seems like a decent sized bookstore coming to Beacon Hill (4 floors of 71 Charles St., which of course is a narrow building, but nonetheless). As far as actual book count, I believe both of those are bigger than Trident. On the (quite) small side, there's the new-ish Posman Books at the other end of Newbury St.

 

[curcuas]

Probably a "wild pitch," but what about a mixed civil use site? My first thought was Blackstone keeps its Shawmut first floor frontage and is lofted over first floor retail on Washington. That said, I imagine the restrictions of operating under a school could be a deterrent to a lot of businesses.

That got me thinking about the library on Tremont. I'm not familiar with the age of the BPL branch on Tremont St, but imagine building it in that same orientation I described above to tuck "under" the school; this could give Washington Street some interesting street activation on that block.

The city could even sell the parcel at market price on the corner of W Newton & Tremont to help fund the move.

At least under Walsh and Janey, the City was looking into putting housing over municipal facilities (eg libraries like they are doing in Upham's corner --- RFP out!). I don't know about schools, but I agree with you completely. Or BPS should rent/sell the Washington property and let someone build 7 stories of mixed use there. That'll give a pretty penny for schools/.

 

[Suffolk 83]

The Croft School, a private elementary school, is taking over the former Stella Restaurant space on the ground floor of 1525 Washington Street in the South End. This is disappointing because Stella was really the only interesting street-level presence along this stretch of Washington.

This stretch is dead mostly because of the city. The Blackstone School could not have a worse Washington Street presence. It's mostly a giant surface parking lot. The small part of the school that is on Washington is a giant blank windowless brick wall. Across the street is a large 1950-era inward-facing public housing complex, the Salvation Army, and what appears to be an abandoned post office (probably utilized by the housing complex today). About 10 years ago, the City opted to use stimulus funds to simply renovate the housing units instead of attempting to redevelop them into something that would help activate the street a bit.

It's unfortunate because this stretch opens on to to the Blackstone/Franklin Square parks and its currently such a dead space. Immediately north and south there are healthy pockets of activity on Washington.

https://www.boston.gov/sites/default/files/file/2022/01/1525%20Washington%20Street%20presentation.pdf

I lived above Stella for almost 5 years, you are definitely dead on with most of this analysis. Losing Stella was bad enough as it had great food and livened up the area but also its a crime it wasnt replaced with another restaurant.

 

[jklo]

Normally I wouldn't post financial information on a site like this, but Amazon's retail business yet again posted a big loss. Almost 3 billion. Guess all the hype about Amazon killing B&M is just that when they can't even keep it profitable. Getting killed by inflation.

Some of you might be happy to hear that they also turned a loss overall because they took an over 7 billion dollar writeoff in their Rivian stock that they own.

 

[St. Botolph Street]

Harvard Books Will Replace Pru’s B&N

By Gen Tracy, The Boston Guardian

Cambridge landmark Harvard Book Store will replace Barnes & Noble (B&N) which is closing its Prudential Center location next month.

The closing which was exclusively reported in The Boston Guardian last June is part of B&N’s retrenchment from retail bookstores. John Henry, the owner of the Red Sox and The Boston Globe is a major investor in Harvard Books which has been locally owned and independently run since 1932. “John is a voracious reader,” noted one of Henry’s close friends who requested anonymity. “He loves bookstores”.

The Pru location contains about 38,000 square feet and represents the Prudential Center’s largest retail tenant. It combines book sales, a coffee shop and is noted for lecture and book signings.

Spokespeople for Boston Properties which owns the Pru and B&N did not respond to requests for comment.

Harvard Book Store will open in the third quarter of next year.

 

[mass88]

How is the coffee at Harvard Books?

 

[BronsonShore]

How is the coffee at Harvard Books?

Nonexistent at the Harvard Square location.

 

[navigator4]

Not WF - Amazon Fresh brick & mortar. They have 20-some locations in the US and they are pretty aggressively pursuing spaces between 20k and 40k sf for strategic expansion. They've displaced the other usual suspects (TJX concepts in particular) as every big retail landlord's most desirable new big-name tenant. They are confirmed as coming to the Boston market (to the level of reported by reasonable publications) at locations in Saugus and Braintree, and the broker rumor mill has them less firmly attached to a few other sites in the market (the B&N redev in Framingham, a site in Westborough on rt 9 near the rt 20 interchange, probably others that I've got no knowledge on).

B&N in Framingham is going to be replaced by a supermarket. The developer won't say which one, but I'm guessing either Market Basket of Fresh Market. Every other chain has a location in the area.

 

[BosDevelop]

B&N in Framingham is going to be replaced by a supermarket. The developer won't say which one, but I'm guessing either Market Basket of Fresh Market. Every other chain has a location in the area.

I don't think the site is big enough for a regular Market Basket store. Fresh Market is a good guess. Are there any in Mass besides Hingham? I doubt it will happen but I would love to see Trader Joe's move their Framinmgham location to Shopper's World. What about Shaw's? I hope not but I don't think there is a location in the immediate area.