Retailer scouting for suitable store site in Boston
Brian Carroll -- Furniture Today, March 9, 2003
Avon, Mass. — Jordan's Furniture hopes to add a store in the city of Boston and is looking for a suitable site. No timetable has been set.
The idea for an in-town store sprung from an ill-fated attempt to take over a Lord & Taylor location in downtown Boston. Lord & Taylor ultimately renegotiated its lease with Boston Properties, the real estate company that now is searching the city for a Jordan's site.
"When we did the consumer research (on the Lord & Taylor location), we asked ourselves why we hadn't looked (in Boston) before," said Josh Tatelman, director of merchandising for the four-store, market-leading retailer. "It was the first time we really looked in the city."
The in-town search is in its preliminary stages. "It's not easy to find 100,000 square feet in the city," he said.
Jordan's has large stores in Avon, Natick and Waltham, Mass., and Nashua, N.H. The Avon and Waltham stores are considered metro Boston units.
The retailer is interested in Boston because it sees a boom in urban living among upper-middle and upper-class residents as a huge business opportunity, particularly considering the chain's profile and reputation in the market.
Most recently, Jordan's expressed interest in the Art Deco-style MetLife building on Boylston Street, recently acquired by Beacon Capital Partners. The building was not designed for retail so it's a long shot, Tatelman said.
A fifth Jordan's Furniture is slated to open in Reading, Mass., in Boston's North Shore area, in summer 2004. The 300,000-plus-square-foot store and warehouse will feature an Imax Theater, the second for Jordan's.
The chain is part of Berkshire Hathaway's furniture operations, which doesn't break out the company's sales. In 1999, Jordan's had sales of $233 million.
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