Eight Blue-Ribbon Tenants
READING, MASS. — By Labor Day, all eight new retail units — a total of 70,000 square feet comprising Phase II of The Crossing at Walkers Brook — will be open for business. And the tenant roster reads like a retailer’s ‘Who’s Who.’
The Crossing at Walkers Brook, a $90 million, 33.5-acre lifestyle shopping center just off Route 128 / 95 in Reading (Mass.), anchored by Home Depot and Jordan’s Furniture, was developed by Dickinson Development Corp. of Quincy (Mass.). “Not only are we 100% leased, but all are 100% blue-ribbon tenants,” said Dickinson President Mark Dickinson. “It took a lot of advance planning, a good tenant mix, an excellent team, a great public-private relationship, and hard work by our broker to reach this milestone.”
EIGHT ‘NAME’ TENANTS
Mark Dickinson noted that most tenants signed letters of intent even before ground was broken, and credited Andy LaGrega’s leasing team at The Wilder Companies, a national retail real estate company specializing in merchandising of shopping centers. LaGrega, Wilder Cos. partner and Senior Vice President for Leasing, said, “The project is a tribute to Mark’s vision. Having two category killers — Home Depot and Jordan’s — as anchors creates a great mousetrap, an incentive that brings shoppers to a specialty center with the right mix. It’s an ideal location on Route 95 in an area with great density and demographics.”
Dickinson commended general contractor and project partner Bill O’Brien, President of Pinncon, Inc.: “They delivered the building on budget and ahead of schedule despite a difficult winter.”
Over a five-year period, before the first shovel touched the ground, the development team led by Dickinson and Vice President Ed Shaw, hammered out details of the complex project that sits atop a former town landfill. In the fall of 2004, Phase I — consisting of Home Depot and Jordan’s Furniture — opened to rave reviews. The two retail giants share a common footprint. Home Depot consists of 140,000 square feet and Jordan’s Furniture comprises 260,000 square feet including an IMAX theater. An adjacent Chili’s Restaurant opened in September, 2004, to complete Phase I.
A WIN-WIN PROJECT
Dickinson’s development team includes: project
partner Pinnacle Partners; construction consultants and
contractor Pinncon, Inc.; architects Carter-Burgess;
and engineering firms Haley & Aldrich, VHB,
Inc., and Dufresne-Henry. Morris &
Morse Co, Inc., of Boston served as financial advisor to Dickinson.
Leasing was handled by The Wilder Companies.