News: Front Section

What does coffee have to do with Newbury St.? - by Carol Todreas

Carol Todreas, Todreas
Hanley Associates

Third wave coffee is not just a trend. It is the wave of the future. This refers to artisanal custom picked beans, roasts, and brews. The coffee may be offered with sweet delicacies, but a key component is the shop which is a small, beautifully designed, one-of-a-kind space. These coffee bistros and other related concepts of specialized concocted drinks and snacks are a rarity in Boston which is ripe with the market for this hip model, but to date mainly served by national chains.

The lack of small artisanal coffee shops for a pause in the day’s shopping or working routine is one of the problems facing shopping streets and neighborhoods in the Boston area. And brings to mind that other small local retail is missing from the streets. The result is little variety and a lackluster shopping experience.

 “The Experience” is of primary interest to Millennials, and small places to hang out in are basic to creating the scene they want. Newbury St. and all shopping streets are more attractive with a sprinkling of these third wave coffee bars, and the other new highly specialized eat and drink spots that are following this wave. 

The idea of condensing services in small shops has not only hit the food and drink industry, but now the beauty category with separate small shops for eyebrows, eyelashes, hair color, blow-drys and now napping salons. Small shops for niche concepts have found their place in brick and mortar, either in the form of show rooms, Internet brands now ripe for physical stores or highly specialized merchandise tailored to a specific clientele and neighborhood. 

Back to “The Experience.” A great shopping experience needs a sense of discovery and local flavor, be it mall or street. In addition to design, landscaping, amenities, technology, and other elements uniting to create a memorable place, a variety of small stores is desirable. (In this context “small” means units between 750-1500 s/f that are affordable). In the current market now there is a healthy selection of new tenants and tenant types to create an experience. Either grouped together or interspersed with larger retailers, these stores can bring novelty, excitement and a sense of discovery.

Small spaces can be woven into retail and mixed –use centers. To do so requires some creativity from all involved. From planners and designers to developers and landlords, but for sure it is worth it since the old days are not going to return. There will always be e-commerce, but that will never give anyone any real fun shopping. It is “The Experience” that will.

Carol Todreas is a principal at Todreas Hanley Associates, Cambridge, Mass.

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.
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:
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.