News: Retail

Boston Sports Club leases 32,000 s/f at Bay State Commons

Boston Sports Clubs, an operation of the New York-based Town Sports International, and one of the leading fitness club companies in the Northeast and Mid-Atlantic states, will open a new 32,000 s/f facility at Bay State Commons.  The club is scheduled to open during the summer.  Bay State Commons, a new lifestyle center in the heart of Westborough, is attracting national fashion retailers such as Stein Mart and concept restaurants such as Panera Bread and Ted's Montana Grill. The center is anchored by Roche Bros, according to Harmon Lewis, exclusive broker with National Commercial Brokers, "We are very excited about bringing Boston Sports Clubs to Westborough. We are in a great location, and the design, and views of the club make it really special.   The club will feature a swimming pool, basketball court, and dedicated cycling and aerobics studios and offer an extensive array of group exercise classes as well as our great fitness product," said Gerard Buckley, Sr. director of real estate and development for Town Sports International (TSI).  "BSC Westborough will also offer our innovative Sports Clubs for Kids, recreational athletics for kids featuring swim lessons, sports leagues, birthday parties and special events," said Buckley.  Ken Marvald who, with New York-based Philips International, is among the Bay State Commons developers, said, "Population growth - especially among high-income, young professional families along the 495-Beltway - is fueling demand for an upscale recreational facility such as Boston Sports Clubs. The 56-acre Bay State Commons has two restaurants, a national department store and an open-market concept supermarket that competes against Trader Joe's, Whole Foods and other national chains. Boston Sports Clubs is a unique situation given the company's requirements to include a swimming pool and other factors so the terms of its lease would not be illustrative of the overall Bay State Commons project." In addition to Stein Mart and Roche Bros., retailers include Stride Rite, Claire's, GNC and The Paper Store.  Bay State Commons epitomizes the forward-looking lifestyle centers that are emerging in the Commonwealth. These centers offer a village setting, recreation and a fun outdoor Main St. shopping experience  In addition to young families, baby boomers who are looking to downsize are drawn to the country setting and convenience of Bay State Commons' adjacent condominium development, Parkview-on-the-Commons. "It's a way to get luxurious living space for far less than what it would cost in Boston, Chestnut Hill or at the Natick Collection." Marvald said.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
READ ON THE GO
DIGITAL EDITIONS
Subscribe
STAY INFORMED FOR $9.99/Mo.
NEREJ PRINT EDITION
Stay Informed
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Newsletter
Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary