Posted on Monday, 31st October 2011 by Blake James
The two-story space being vacated by Filene’s Basement on Boylston Street is the second major hit for the same landlord who lost Borders to bankruptcy earlier this year.
But brokers say the Basement’s 38,000 square feet in the Newbry building should lease quickly after the retailer liquidates early next year because it is a prime space that also connects to lower Newbury Street.
“There will be several retailers who want to be here,” said Andrew LaGrega, principal at the Wilder Cos., a downtown agent who represented the landlord when Filene’s Basement took the space in 2006.
LaGrega said most of the 24,000-square-foot Borders space is expected to be leased to clothing retailer H&M, which will expand into the second level of the former bookstore.
“The challenge for the Filene’s space is finding the right tenant, but that amount of space is rare in the Back Bay and will be sought after,” he said.
LaGrega noted there was a long line of prospective tenants for the former Virgin Records space at Newbury Street and Massachusetts Avenue, which was leased by electronics chain Best Buy.
“That was pre-recession,” he said. “But it’s not like the suburbs where there are many empty box stores.”
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Tags: Sought Space, Space
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