Gap Inc. is seeking workers for a new Gap Outlet that will open in Downtown Crossing — the latest evidence of a looming revival for the Boston shopping district.
The Gap is in talks to open the outlet on Washington Street, across from the Millennium Tower site, in the space previously occupied by the F.Y.E music and video store.
Downtown Crossing has seen heightened interest from retailers and investors in the wake of Millennium Partners starting work on the $630 million Millennium Tower and Filene's building redevelopment — particularly since it announced Arnold Worldwide will relocate its advertising headquarters there in September, and a 30,000-square-foot Roche Bros. supermarket and four-floor Primark store will open in 2015.
"There's clearly more interest," said Ron Druker, a major Downtown Crossing property owner with buildings on Winter, Washington and Bromfield streets, including the Corner Mall. "We get inquiries from brokers and from tenants as to whether or not we have space. We get interest from national and international (companies). It has picked up."
And retail lease prices will only go one way, Druker said — up.
The F.Y.E store closed in January 2012. Next door, the building that once housed a Barnes & Noble has been vacant since the bookseller moved out in the summer of 2006.
"In general, I think there's more activity than we've seen in recent years," said Robert Posner of Commonwealth Holding LP, which owns the former Barnes & Noble space at 395 Washington St.
Since 2010, 35 Downtown Crossing properties have changed hands. In the past year and a half alone, 17 buildings have sold, according to the Downtown Boston Business Improvement District.
"The real estate market is hot, and I think it means people are looking at the district and seeing that it has great value and great potential," BID president Rosemarie Sansone said.
As for retail interest, "there's a lot of movement," according to Sansone. "We see many more people showing spaces every day than we ever have before," she said.
San Francisco-based Gap Inc. did not respond to Herald inquiries.
"The Gap is a well-known brand, and that's exciting," Sansone said. "They have a loyal following."
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