(For more retail coverage, click GlobeSt.com/RETAIL.)
NEEDHAM, MA-Construction won't be completed on a $6-million 'mini lifestyle' center until December but national retailers are already carving out a spot in the 24,000-sf project, leasing 65% of the space nearly two months before work on the Needham retail plaza is even finished.
Needham Gateway Shops is rising on the site of the former Berejik Oldsmobile dealership. Marc Koenig, a principal with Eclipse Partners LLC, which is developing the property at 100 Highland Ave., tells GlobeSt.com that Eclipse has signed leases with Panera Bread, Jos A. Banks, Omaha Steaks and Mattress Giant. He expects the remaining space to lease up within 30 days.
Jason Weissman, founder and principal of Boston Realty Advisors, which is handling the leasing duties, tells GlobeSt.com the scaled down lifestyle center is situated in a high traffic corridor on the border of Newton and Needham, two upscale communities with high income demographics, making a guaranteed formula for success.
"Its one of the most dominant retail corridors in all of eastern Mass," Weissman says.
The project, which took more than four years to get through the permitting stage, is expected to be completed just in time for holiday shopping.
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