ASSIGNMENT: Following in the unfavorable footsteps of Tower Records and Virgin, Best Buy announced it was closing its Newbury Street location. The commanding three-level retail space in the landmark Back Bay location was again vacant. Boston Realty Advisors was exclusively retained to lease 40,640 square feet of premium retail space over three levels at 360 Newbury Street.
APPROACH: With the building historically occupied by ill-suited tenants, the BRA retail team developed a strategy to reposition the space to compliment the current retail tenant mix on Newbury Street. Targeting tenants for such a large space in an urban environment required a unique, hands-on process. The BRA team, led by Michael D’Hemecourt, established a highly comprehensive and focused marketing outreach program. To maximize exposure to prospective retailers regionally, nationally and internationally, BRA launched a Twitter campaign to drive awareness for #360Newbury.
RESULT: BRA successfully secured a new anchor tenant for the high-profile retail space. T.J. Maxx will be the newest addition to the Frank Gehry-designed building on the corner of Massachusetts Avenue and Newbury Street.
