You’ve probably noticed the huge empty store-front at 43-45 Newbury Street, across from Brooks Brothers. It used to be a restaurant, before that it was empty, before that it was another restaurant, before that … you get the story. It’s always been a mystery to me as to why it’s always vacant, and why they can’t get a good, long-term tenant.
Well, they’re about to try again, according to The Boston Business Journal.
The long-vacant and often-eyed retail store front at 45 Newbury St., at the corner of Berkeley Street in the Back Bay, will house fashion retailer Valentino USA. The 3,000-square-foot location had been vacant for two years and has drawn speculation over lease pricing.
The rumor is that the owner, Saunders & Company, has been asking for rents in the $200 per square foot range for its properties in the area (they wouldn’t confirm). Apparently, that’s a lot higher than other leases, which is why these buildings have remained vacant.
The building next door, with 5,000 square feet, is not included in the new lease, and remains vacant.
Complete article: Valentino boutique to open in long-vacant Newbury Street site