News: Front Section

New England Development tops off first building at Chestnut Hill Square

New England Development topped off the first building at Chestnut Hill Sq. earlier this month and has already broken ground on two additional buildings that will be part of this mixed-use development on Rte. 9. Steel for these structures will be going up in early October. Chestnut Hill Sq. will open in fall of 2013 and will feature a mix of specialty shops and restaurants - including Brio Tuscan Grille and Seasons 52, Wegmans Food Markets, Equinox Fitness, and medical offices. Chestnut Hill Sq.'s unique combination of uses, its ideal location on Rte. 9, and direct access from Rte. 9 east and westbound and from the Mall at Chestnut Hill are attracting national, regional, and local retailers and restaurateurs, as well as both institutional and independent medical office users. Douglass Karp, executive vice president of New England Development, said, "We've envisioned Chestnut Hill Square as a location that will serve the local community and also become a destination by featuring unique shops, restaurants, and medical offices." Seasons 52, the highly acclaimed fresh grill and wine bar, will create 100 new jobs in the area. The restaurant will be 9,500 s/f and will feature a warm, welcoming ambiance with mahogany accents, custom-built wine cellar, dining room, and piano bar featuring live music nightly. Additionally, the restaurant will offer two private dining rooms and an exclusive chef's table. BRIO Tuscan Grille, which serves steaks, housemade pasta specialties and flatbreads prepared in an authentic Italian oven, will open an 8,100 s/f restaurant at Chestnut Hill Sq., which will feature outdoor patio seating. BRIO (meaning "lively" or "full of life") is an upscale affordable restaurant serving authentic, northern Italian cuisine. The subtitle, "Tuscan Grille" is descriptive in the menu that features wood-grilled and oven-roasted steaks, chops and seafood, similar to what one would find in an authentic ristorante in Tuscany. Wegmans will be unveiling a smaller urban concept at this location, where it will build a 70,000 s/f food store. "This store will have almost everything customers have come to expect from Wegmans, including the incredible customer service that is our signature," sayid Bill Congdon, vice president and New England division manager. Equinox will be opening its first suburban Boston location at Chestnut Hill Sq. For Equinox offers an integrated selection of Equinox-branded programs, services and products, including strength and cardio training, group fitness classes, personal training, spa services and products, apparel and food/juice bars. New England Development is in discussions with both institutional and independent medical office users about leasing space in the medical offices at Chestnut Hill Sq. and expects to sign leases with doctors in OBGYN, primary care, radiology, orthopedics, concierge medicine, dental, and dermatology practices. Chestnut Hill Square will feature the first 'Class A' medical building to be built in Brookline/Newton in over twenty years.
MORE FROM Front Section

Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.

Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Make PR pop by highlighting unique angles - by Stanley Hurwitz

Make PR pop by highlighting unique angles - by Stanley Hurwitz

Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul

How COVID-19 has impacted office leasing - by Noble Allen and John Sokul

To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.

Four tips for a smooth 1031 Exchange - by Bill Lopriore

Four tips for a smooth 1031 Exchange - by Bill Lopriore

Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.
Five ways to ruin a  Section 1031  Like-Kind Exchange - by Bill Lopriore

Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore

While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid: