cityretail

Beyond Kendall!?

In General on June 24, 2010 at 4:30 pm

As discussed in my last post, Tenant Representation work is one potential direction we can take CityRetail as we develop the business.  Another equally obvious direction is to expand our Landlord Representation work into other areas of Boston/Cambridge.  Over the past year we’ve been approached by a handful of Landlords asking us to take on assignments to lease retail/restaurant space in buildings throughout the Boston area.  Some of these projects have been tempting but we have very deliberately stayed focused here in Kendall, an area we know very well, are heavily invested in and strongly believe in the virtues/need for ground floor development.  Now though, as we are approaching the six month mark from CityRetail’s official launch, I feel like it’s time for a test run outside of Kendall…

As of Tuesday, CityRetail has agreed to take over the retail leasing at 957 Commonwealth Ave, an approx. 15,000 sf building located on Boston University’s West Campus.  The primary and immediate goal is to find an appropriate Tenant for a 1,900 sf storefront spot that was previously occupied by Cold Stone Creamery (see pic above).  One of the reasons I feel comfortable taking on this assignment is that it is on behalf of a hands-on Landlord that is willing to think outside of the box and work collaboratively to bring in the best possible use to a space that was previously leased to a national chain… (read more)   This does not mean excluding the possibility of working with a national or regional chain but it means having an open mind and the flexibility needed to bring in a local owner-operated business.  Further, there’s additional square footage located in the building for lease and a development opportunity (for the right Tenant the Landlord will add a floor to the building).  In sum, it’s a great place to start our ventures outside of Kendall.  We do so cautiously but enthusiastically.  Stay tuned for further updates and please contact me for more info on this opportunity.

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