i'm eagerly awaiting the converse store.
boston.com
Spring revival on Newbury Street
By Johnny Diaz, Globe Staff | May 17, 2010
Boston’s most coveted retail address is back on the map.
So far this year, more than a dozen new shops have opened on Newbury Street — from Cotelac women’s apparel to British clothier Ben Sherman — giving the street a 95 percent occupancy rate among more than 300 retail properties.
An additional 14 businesses are coming this year, including Converse, Levi’s, Jack Wills clothing, and Met Bar & Grill.
“Newbury is still hot,’’ said Tom Brennan, vice president of C. Talanian Realty Co., which owns and manages about 30 properties on Newbury. “The best locations are the last to drop and the first to come back.’’
It is certainly a reversal of fortune for Newbury Street.
The influx of businesses comes about a year after several chain stores, galleries, and boutiques closed along the street, renowned for its historic charm and haute mix of luxury shops, salons, and restaurants, which stretch eight blocks from Arlington Street to Massachusetts Avenue. Gaping holes were left as retailers like the Gap and LouisBoston departed, causing Newbury’s occupancy rate to fall to about 80 percent.
Real estate observers and merchants say many of the businesses left because of sluggish sales during a deep recession that made it difficult to afford the rent, which, depending on the block, can be from $50 to $240 per square foot.
Newbury Street has the highest retail rents in Boston, according to city officials.
But the departures opened up prime retail space that city officials and property owners could pitch to international brands looking to establish a presence on Newbury. Indeed, some of the new entrants, including British clothiers AllSaints Spitafields and Ted Baker, are based in Europe, and their Newbury stores are the first in New England.
“It’s aggressive promotion and leasing,’’ said Meg Mainzer-Cohen, president of the Back Bay Association, which spent $20,000 to launch a website last summer to better market Newbury and the Back Bay as destinations for “culture, cuisine, couture, and commerce.’’
UrbanMeritage, which owns 22 buildings on Newbury, has been aggressively courting tenants. The company in August launched a website,
thenewburyline.com, to better promote the 02116 ZIP code as a shopping destination.
Michael Jammen, principal of UrbanMeritage, said it has spent $200,000 on the website and neighborhood branding.
“The level of marketing to go and attract those tenants is much more sophisticated than the old guard of Newbury Street who simply stick a sign in the window and wait for someone to call.’’
The UrbanMeritage promotion, he said, targeted retail conferences domestically as well as overseas, where Newbury Street is already something of a brand name.
Newbury is “
the street to be on,’’ said Catherine Groener, US marketing manager for Cotelac, based in France. “A lot of people know the brand from Europe. If you go to Boston to visit a college, or you want to walk around, you go to Newbury Street. That is the obvious place to be.’’
The city has also helped the district rebound. Last summer, Mayor Thomas M. Menino toured Newbury with 70 retailers, brokers, and developers as a prelude to the International Conference of Shopping Centers’ New England Idea Exchange meeting in Boston. Menino highlighted some of the street’s vacancies and the critical need to fill them.
Dot Joyce, a spokeswoman for the mayor, said some of the new retailers heard about the openings during the tour.
Last week, the city proposed sprucing up the street later this summer by replacing all of its street lamps with 17-foot decorative acorn lamps, at a cost of about $300,000.
The mayor has also raised the possibility of closing Newbury Street to vehicle traffic during some summer days and inviting artists for street fairs, but that is still being discussed.
“We are constantly looking at Newbury and all of our business districts and how to improve them,’’ Joyce said.
Signs announcing store openings dot Newbury Street. Converse, for example, has a giant “Coming Soon’’ sign emblazoned on its black wooden fence in the 300 block. Walk another block, and construction workers are renovating the former home of Nora’s Convenient Store at 303 Newbury for an Ibex Outdoor Clothing store, which plans to move in later this year.
Farther down, scaffolding envelops the side of three former town homes where the Met Bar & Grill is being built at Dartmouth and Newbury streets.
Owner Kathy Sidell Trustman said she has been waiting two years for the 7,600-square-foot location to become available. It had been the home of Joe’s American Bar and Grill, which relocated in March to 181 Newbury.
“The space dictates and really speaks to old Boston and New England,’’ said Sidell Trustman, who owns three other Metropolitan restaurants — at the Natick Collection, Legacy Place, and Chestnut Hill.
Shoppers have noticed Newbury’s comeback.
Eleanor Mason, the owner of an alterations business in Brookline, recently visited the 7,500-square-foot AllSaints Spitafields store, which opened last month, replacing the home decor store Pottery Barn. The store, which has more than 100 antique sewing machines in the window and sells vintage-inspired clothes, was abuzz one recent afternoon.
“It’s bringing more fashion to Boston,’’ said Mason. “It has a European flair. It’s going to be huge competition for other shops. This is good for Newbury Street.’’
Still, some darkened storefronts remain, marked by “For Lease’’ and “Space Available’’ signs. The former home of the Gap clothing store remains empty at 201 Newbury. Earlier this month, Too Timid, an adult sex accessories store at 297 Newbury St., shut its doors.
And after 38 years, Marcoz, an antiques store at 173 Newbury, recently posted a “Moving Sale’’ sign after the owner, Marc Glasberg, said his landlord had doubled the rent on the 900-square-foot store. He said he is negotiating a new lease in the Back Bay, but not on Newbury.
Rachel Walsh has mixed feelings about old businesses closing and new ones opening. She and her husband own Rick Walker’s Boots, which is across the street from the future home of the Ibex Outdoor Clothing store.
“I’m glad to see some of the empty spaces being filled up, but at the same time, just the fact that the other ones all closed makes us take pause,’’ she said.
Mark Juliano, owner of Highlights Salon on Newbury, agrees. He said his $8,000-a-month rent went up to about $11,000 this past year, but because of the closings he was able to find a cheaper space one block away.
“I am not happy to see these billionaires come in and scoop up these buildings and ask for ridiculous rents,’’ said Juliano, whose hair salon is a 10-year fixture on Newbury. “But also the economy has pushed people out and has created opportunities for people like me.’’