(For more retail coverage, click GlobeSt.com/RETAIL.)
LEOMINSTER, MA-The national pet store chain PetSmart will open a 20,000-sf store next spring on two acres of land adjacent to the Mall at Whitney Field in Leominster.
David L. Murphy, a managing partner with Boston-based Hamilton Partners, tells GlobeSt.com that the chain signed a 10-year lease with two five-year options to renew, on the site. Presently the site houses a 33,000-sf building that was once home to a beer distributing firm.
Murphy said that building will be demolished in November prior to construction. The new PetSmart building should be completed by March, he notes. Terms of the lease were not disclosed, but Murphy says retail space in the Leominster area generally leases in the high-teens to low $20s per sf triple net.
A PetSmart spokeswoman says the new store at 89 Commercial Rd. in Leominster will be part of an aggressive expansion by the company to nearly double its existing 850 locations. Hamilton Partners acquired the property from A&E Distributors Inc. in January for $1.9 million, with plans to redevelop the site for retail use, Murphy says.
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