cityretail

Another Challenge

In Closed Deals, General on February 19, 2010 at 8:28 am

Dave and I toured a very interesting space in East Cambridge yesterday afternoon with folks from Jones Lang Lasalle, property and leasing managers for a building owned by Principal Global Investors, a CityRetail client. The space was previously a corporate cafeteria for IBM and has some potential for a retail use. Devising a retail leasing strategy for this space will be a tremendous challenge but it is the kind of challenge that spurred the creation of CityRetail.

This business grew organically out of our team’s ability to take on challenging assignments. Of the seven retail deals we’ve closed in the last eight months, only one of such is in space that has previously been occupied and every premises has sat vacant for long periods of time. Our team took on very tough assignments and had successes where prior firms had not. We took to leasing retail in Kendall and East Cambridge with an open mind and determined approach.  A great example is an assignment we got from Principal: to lease an awkward shaped storefront space (long and narrow and divided by a garage entrance) on First Street that hadn’t been leased since the building went up… over 20 years ago! A lease was signed last month with Lux Dental, a multi-specialty dental care center. Our successes are largely due to our ability to thinking outside of the box, encourage reasonableness (on both sides) and bridge the divide between small, local business and large, national landlords. We speak both languages (that of small business and institutional landlord) and put in the time and resources to see deals through.

future home of Lux Dental

  1. We are greatful for your help. Would be happy to have you post some new pictures for a jobe well done.

    Dr. Abdul

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