International Tenants Make Downtown Crossing a Real Estate Hot Pot and a Future Retail Battlefield
The Burnham Building and old Filene’s building have been empty for years in Downtown Crossing and bring a scruffy impression to this area, which could have been the Times Square of Boston. There have been some construction projects going on in Downtown Crossing but they are not helpful to relief the continuously tightened residential and commercial vacancy rate in Boston area.
To highlight a few, the Burnham Building will be extended to a 625-foot tower called Millennium Tower that features 450 luxury condominiums. The old Filene’s building attached to the Burnham Building has been signed to Irish clothing retail brand Primark that carries barging-price fashion goods and a grocery store brand Roche Brothers that comes with specialty food shops and cafés. The upper level of the Filene’s building are leased to two marketing and advertising firms, Havas Media and Arnold Worldwide, as their headquarters in Boston.
The Primark is known for its fashion collections with discounted price, which has been expanded throughout the world from UK. It is competing with brands such as H&M and Zara. With the supermarket and dining area that Roche Bros provides, the historical architecture once occupied by Filene is expected be the new shopping destination and light the retail battle in Downtown Crossing.
See The Boston Globe and Boston Business Journal for more detailed information.
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