Atrium Mall losing more stores
Borders Books Music, Williams Sonoma, Abercrombie Fitch, and luxury jewelry store tiffany Co. have already exited in quick succession.
Simon is trying to sell the mall, company representatives said.
Once a beacon to upscale shoppers in Boston western suburbs, the Atrium has been crippled mainly by the growth in competition from other high end malls, such as Legacy Place in Dedham and the Natick Mall, said Robert Sheehan, vice president of research for KeyPoint Partners, a Burlington commercial real estate service firm.
kind of cut business off from the western suburbs, Sheehan said.
The Atrium also always lacked an anchor tenant and the unusual four level concept probably deterred some shoppers, he said.
lost business, and Simon is going to [عزيزي الزائر يتوجب عليك التسجيل لمشاهدة الرابط للتسجيل اضغط هنا] Plan B to redevelop the site and sell the site, Sheehan said.
Simon officials have been tight lipped about their plans.
The Atrium change in fortunes comes as the retail landscape around Route 9 is on the rebound.
Nearby, WS Development is planning to renovate and expand the Chestnut Hill Shopping Center with an upscale movie theater in the empty Macy building. And specialty grocery chain Wegmans has announced that it will [عزيزي الزائر يتوجب عليك التسجيل لمشاهدة الرابط للتسجيل اضغط هنا] anchor the Chestnut Hill Square project on the former Omni Foods Supermarkets site on the other side of Route 9.
When the Atrium opened in 1989 with its signature skylight, gold toned finishes, and boutique stores, it stood out among the more traditional malls.
Now, swaths of each of the four floors are dark with empty storefronts. After Gap closes there will be just 14 retailers remaining in the Atrium.
Muhammed Irfan, the owner [عزيزي الزائر يتوجب عليك التسجيل لمشاهدة الرابط للتسجيل اضغط هنا] of home good store Decor Mantra, said business has slowed since Border left and as each store closes, fewer shoppers stop at the Atrium.
At the end of this year his lease will be up, and he is waiting to hear what the new owners plan to do with the Atrium. Irfan said he will likely look for new [عزيزي الزائر يتوجب عليك التسجيل لمشاهدة الرابط للتسجيل اضغط هنا] space in one of the nearby shopping centers.
About its closing, Gap officials said the company is making decisions on a store by store basis.
constantly reevaluating our real estate portfolio to [عزيزي الزائر يتوجب عليك التسجيل لمشاهدة الرابط للتسجيل اضغط هنا] ensure we have the right stores in the right places to best serve our customers, said Liz Nunan, a spokeswoman for Gap, Inc.
Other retailers are also in conversations with Simon about their future in the mall.
Ross Simons, a jewelry store, is moving to the Mall at Chestnut Hill across the street from the Atrium on Route 9, and tiffany Co. is already in the Mall at Chestnut Hill. Simon also owns the Mall at Chestnut Hill property.
The Atrium ******** in a high traffic corridor, amid affluent neighborhoods close to Boston, makes it a prime commercial site for whatever comes next, Sheehan said.
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