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7 for 7

By: Jesse

12-02-2012

General, Kendall Square, Retail Thoughts

The Boston Globe's Eric Moskowitz talking to Firebrand Saints owner Gary Strack

I spent a day last week walking around Kendall Square with Eric Moskowitz of the Boston Globe. Eric is writing a 24 (or 18) hours in Kendall Square piece, which should come out in next week’s Sunday Globe. It was my task to give Eric a peek (and taste) of the developing food and retail scene in the neighborhood. We did a sort of mini food crawl and I left the tour feeling more enthusiastic than ever about the consulting and brokerage work CityRetail has done since 2007 and the work that we hope to do as Kendall Square further develops. Here’s why:

Eric and I visited 7 businesses. We started at the Clover Food Truck and then proceeded to Evoo/Za, KIka, Fuji, Xylem, Area Four and ended at Firebrand Saints. AT EVERY BUSINESS WE STOPPED AT THEIR WAS AN OWNER PRESENT . And let me be clear, I did not call a single business and let them know we were coming. I’ll say it again and use caps one more time since I’m excited about this: EVERYWHERE WE WENT AN OWNER WAS THERE… This is amazing.

More than anything else, this incredible owner-operator presence that we experience on our tour speaks to Kendall Square’s potential as a great urban place (emphasis added re: use of word “potential” – we still have a ways to go) and gives CityRetail and hopefully our LL clients, the City of Cambridge and East Cambridge residents faith that we are on the right track and should be proud of our work to date. And now that all are on board with the reality that retail and restaurants can work in Kendall Square (this was not a given in 2007), it’s up to all of us that live, work and play in Kendall Square to make sure that we stay the course of growing a retail and restaurant community in a responsible way – that is to say that we continue to put a priority on working with experienced local owner-operated businesses and continue to work collaboratively to meet the growing needs of the community. So in three years I hope I can write another 7 for 7 post… at least it’s something to aspire to.

P.S. Eric started his day with coffee at Voltage Cafe, where of course Lucy, the owner, was there too. So I guess it’s actually 8 for 8.

[update 2/27/12 – here’s the link to Eric’s article, which was the cover story in 2/26/12 Boston Globe Sunday Magazine: “24 Hours in Kendall Square“

Coffee, Seriously – Part II

By: Jesse

08-12-2011

Closed Deals, Restaurant News

In my post “Coffee, Seriously” from April 2010 I touched on the relative explosion of the coffee scene in Boston and Cambridge. Back then I predicted 8 – 12 “serious coffeehouses” would join the scene in the next couple years. Well, it’s been a year-and-a-half and we are at over 8 and climbing; half of which were CityRetail led/initiated deals… As follows are 8 select recent openings and some of my (highly subjective) comments.

Area Four (Cambridge, Kendall Square) – CityRetail worked and sourced this deal o/b/o the LL. The cafe is part of larger (and really good) restaurant by Chef Michael Leviton of Lumiere (http://www.lumiererestaurant.com/) in Newton. A4 is one my favorite spots in Cambridge and brought much needed life to Technology Square. House coffee is roasted by Barrington Coffee Roasters. see: http://www.areafour.com/
Blue State Coffee (Boston, Comm Ave near BU) – CityRetail worked and sourced this deal also. BSC has New Haven and Providence locations (2 in each city) and was eager to open in Boston in 2010. BSC is a great concept that incorporates a strong philanthropic component. BSC recently started roasting own coffees. see: http://www.bluestatecoffee.com/
Render Coffee (Boston, South End) – CityRetail worked for Tenant on this one, which is rare and was a lot of fun for us. Render is one of first cafes in area to use super highly regarded NC based roaster Counter Culture Coffee. This is pour-over only concept and is killer. see: http://rendercoffeebar.com/
Hi-Rise Bakery & Cafe (Cambridge, Mass Ave near Harvard Sq) - CityRetail worked and sourced this deal on behalf of Lesley U, which desperately needed a top-notch cafe for a new dorm building on Mass Ave. Before we got involved Lesley had few other options other than national chains… Big, big upgrade from any chain with Hi-Rise and big, big upgrade to the neighborhood generally with this use. Coffee roasted by Barismo. See: http://hi-risebread.com/
Voltage Coffee & Art (Cambridge, Kendall Square) – This is my go to cafe in Kendall, which is across the street from the Watermark building and CityRetail’s office at the Cambridge Innovation Center. This is always my first stop when I get back to Cambridge from NYC. Lucy and Zoey – you rock!! Currently use Barrington and Barismo coffees. Like Render, pour-overs only. See: http://voltagecoffee.com/
Dwelltime (Cambridge, Broadway between Inman and Harvard Squares) – This cafe will be opening really soon and is owned by the team from Barismo (coffee roaster in Arlington), which is one of the top local roasters (and one of the hottest in the country if you talk to coffee fanatics) and also operates a cool little cafe in Arlington, MA. See: http://dwelltimecambridge.com/
Thinking Cup (Boston, Downtown) – First cafe in Boston area to use Stumptown coffees as house coffee and filled a huge void in pretty much non-existent coffee scene in Boston’s downtown n’hood. See: http://thinkingcup.com/
Jaho Coffee (Boston, South End) – I went here a lot before I moved to NYC and used to really enjoy their cold-brew iced coffee. Jaho roasts own coffees and while not on same level as some of other roasters referenced herein, they do a really nice job. See: http://www.jaho.com/
Barrington Coffee (Boston, Fort Point Channel) – First cafe from Barrington Coffee Roasters, which opened less than a week ago. I can’t wait to check this place out. See: http://www.barringtoncoffee.com/about/boston

Hey, and while I’m at it, here are some of the other great Boston/Cambridge/Somerville cafes that I really like and are doing the “serious coffee” thing really well:

Crema Cafe (Cambridge, Harvard Square) – My sister Liza and my close bud Marley’s spot in Harvard Square. I absolutely adore Crema but I’m a proud and super biased brother. Crema uses George Howell Coffee Co coffees and just started a guest coffee program featuring some of the other best roasters from around the country (Sightglass, Counter Culture and PT’s have been featured of late). See: http://cremacambridge.com/
Simon’s Coffee (Cambridge, Mass Ave near Porter Square) – Simon was doing the serious coffee thing before people like me knew what good coffee tasted like. Tons of respect for this cafe, which now uses Barismo coffees. http://dwelltimecambridge.com/
Bloc 11 & Diesel Cafe (Somerville, Union and Davis Square) – two of Somerville’s best cafes owned by same group. Both cafes serve Stumptown and Inteligensia coffees. See: http://bloc11.com/ ; http://diesel-cafe.com/
Beantowne Coffeehouse (Cambridge, Kendall Square) – Hidden gem buried outside of Kendall Square at One Kendall Complex. Nice coffee/espresso done by Raos. Ed, owner, has been hip to the coffeehouse thing for decades now. See: http://beantownecambridge.com/
Pavement & Espresso Royale Cafe (Boston, multiple locations) – Multiple ERC locations in Boston but Pavement – one location – has more robust and focused coffee program than ERC. ERC has though groomed some of the areas top baristas and cafe operators and the list of alumni is impressive. Both operations use Counter Culture coffees. See: http://www.pavementcoffeehouse.com ; http://www.espressoroyaleboston.com/
Flat Black Coffee (Boston, Financial District) – This was my favorite spot in Downtown Boston for years when I had an office on Tremont Street in ’07 and ’08 (and before the local coffee scene was as great as it is today). They roast their own stuff and have a great philosophy about coffee and cafe culture. See: https://www.flatblackcoffee.com/
Sip Cafe (Boston, Post Office Square) – owned by an alumni of George Howell Coffee Co. and occupies a really funky spot in Post Office Square in Boston. I don’t get here much but when I do I always have a good time. See: http://www.sipboston.com/

I could go on for a while here but I think this is a pretty decent starter-list of some of Boston/Cambridge/Somerville top cafes and notable recent openings, though I’ve def missed some spots so please comment below and let’s keep this list going.

Summer Lovers

By: Jesse

23-09-2011

Closed Deals, Kendall Square, Restaurant News

There’s an old school 80s movie called Summer Lovers that is so bad it’s good. It has absolutely nothing to do with CityRetail or this post. In truth, I’ve just really wanted to name a post “Summer Lovers” – it has a ring to it – and since today is the last day of Summer I’m going to run with it. Maybe it’s the same sort of reason Gary Strack named his new restaurant “Firebrand Saints” – it doesn’t really make sense (or does it?) but it does have a ring to it…

When my team’s self-help retail experiment started turning some heads in 2008 by bringing a bit of buzz to the then perceived retail wasteland that was (past tense – emphasis added) Kendall Square, we simultaneously started taking meetings with a few neighboring LLs and outlined our hands-on and grass-roots approach. One such LL we met with was MIT. MIT had a particular interest in activating 3,000 SF of vacant ground floor retail at One Broadway. The space was previously an Enterprise Car Rental office and was sandwiched between a Dunkin Donuts (still there) and a Dominos Pizza (recently closed – another exciting project coming there soon though). Our team was subsequently engaged by MIT with the goal of finding a food use that would activate said storefront for maximum hours and appeal to maximum customers; a place where faculty and professionals could have lunch at 11:30am and MIT Sloan students could have a drink(s) at 11:30pm. From the start I knew we needed somebody with vision, energy and experience.

I got in touch with Chef Gary Strack in early 2009 through my clients/friends at SOSOLIMITED, who have worked with Gary in the past and are the wizards behind the TV programming you’ll see behind the bar in Firebrand Saints. Gary was on the top of my list from day 1 for this space – he pioneered as chef/owner of Central Kitchen and Enourmous Room in Central Square and has a knack for understanding and facilitating the intersection of art, performance, tech and food… A perfect match for Kendall and it’s still developing retail scene. Gary knew it and so did I. Now, some 30+ months later, Firebrand Saints is set to open.

This deal has been a special one for me to work on. It has led to friends and collaborations that have great meaning. Further, FbS opens just as I transition my home-base to New York City, which seems fitting. As CityRetail and I expand our reach beyond Cambridge (more on this later), this deal as much as any other deal we’ve worked on over the last three years bolsters my claim that CityRetail is a unique group that can package and deliver game-changing and outside-of-the-box restaurant projects.

This project also demonstrates something that so many in the City of Cambridge (both the public and city government) have taken an interest in questioning and criticizing: MIT’s commitment to retail in Kendall Square. Let me be absolutely clear: MIT would not have done this deal – could not have done this deal – unless they cared about and were committed to the role of small, local, owner-operated businesses in Kendall Square. period.

So thanks for this MIT. And Gary, now it’s up to you to do what you do best >> create a cool and fun place with kickass food. Go get ‘em. We are all rooting for you.

Sushi, as requested.

By: Jesse

28-07-2011

Closed Deals, Kendall Square, Restaurant News

Construction just started on an exciting new Japanese restaurant here in Kendall Square. Folks in the neighborhood have been clamoring for sushi dating back to my team’s start on the Watermark (where Evoo/Za and Bosse City Club are and where Kika Tapas will be) and CityRetail and Alexandria Real Estate Equities, our client and the Landlord on this project, are super pleased to be close to delivering this use (note that Alexandria is also Area Four’s LL, as deal we worked on in 2010). The restaurant, Fuji, is a second location for a young, aggressive and exciting group out of Quincy, MA. Fuji’s team is spearheaded by chef/restauranteur, Jimmy Liang. Jimmy’s team has three other Quincy spots (teppanyaki, hot pot and Chinese – links here) and Jimmy has also been a consultant on several big-name restaurants of late, Shrine at the MGM Grand Foxwoods being one example (article here). The Fuji team has a proven record locally and brings a fresh new dining concept to Kendall Square – two themes (1, proven; 2, will add value to n’hood) that have guided CityRetail’s advisory and leasing work from day one.

Fuji’s planned opening is mid-October. Lunch, dinner, catering, full bar and sushi bar. 300 Third Street. See you there.

Quick Update & Some Press

By: Jesse

17-06-2011

Kendall Square

I know it has been ages since last post but I assure you CityRetail is still alive and kicking. We’ve been working on a new cityretail.com that I’m hoping to bring live next week. It will be easier for you to read and easier for us to manage and update.

Generally, It’s been a great spring for CityRetail. Area Four opened three weeks ago and has been a big hit. I’m super proud of CityRetail’s work on this deal and think the concept, food and team is so solid. Chef Gary Strack’s Firebrand Saints will open mid-Summer and as with Area Four, I think folks will be treated to something fresh, exciting and super tasty. Also just opening is another one of CityRetail’s big projects from 2010, Bosse City Club (Health Club and Spa), which, like Area Four and Firebrand, is a highly entrepreneurial and innovative retail offering that matches the vibe here in Kendall. Oh, and then there’s Kendall’s very own 110 tap beer joint: Meadhall, which also opened last month…

I’ve got lots more to share and will do so with more regular posts as soon as the new site is up. For now though, here are a handful of links and press about some of our recent projects and neighborhood happenings:

“Cambridge’s Hottest New Neighborhood for Foodies, Area 4“ (WCVB TV Boston 5, ABC)

“BioTech a la carte” (The Boston Globe)

“Kendall Square: The Boston Area’s Next Restaurant Row?” (Blog)

“Can you call it a gym if it features concierge service, a eucalyptus steam room and zen garden?” (The Boston Globe)

“Luxury Fitness Center Expanding into Kendall Square” (Cambridge Chronicle)

“Hip To Be Square” (Stuff Magazine)

Meet Patricia

By: Jesse

13-04-2011

Our Team

I’ve known for a while that CityRetail’s bandwidth is significantly limited with just Dave and I running the show and I’ve thought hard over the past six months about the type of person we need to bolster the team. Conventional wisdom suggests that I should bring on someone with extensive retail real estate experience but for now I’m going in another direction…

What CityRetail needs now is another entrepreneur – someone who appreciates and understand how we have created new space in the marketplace and somebody who understand that space. I want someone who has run their own small business; someone who understands the entrepreneurs and businesses we are working on deals with. The real estate and leasing stuff can be taught; what I nor anybody else can do is teach what it’s like to actually run a restaurant and make your living accordingly.

Patricia Woodard is the Patty in “Mike & Patty’s,” a sandwich shop in Boston’s Bay Village neighborhood. Mike & Patty’s is good; really good. It’s the number one rated restaurant on Yelp! Boston and it’s a local favorite. Patricia recently (and on very good terms with Mike) left Mike & Patty’s and when I met with her earlier this year to talk about her transition we realized that CityRetail might be a great place for her to land. We spent much of Feb and March talking about how this could work, Patricia took her real estate exam (and passed in flying colors!) and now we are off and running.

Patricia’s experiences have ranged from food writer to cheese buyer to cook. She’s been working in restaurants for all of her adult life and she’ll bring this experience to CityRetail, where she’ll continue working with restaurants and cafes. She’ll bring a new lens for us to look through at CityRetail and I’m super excited about it.

Field Trip

By: Jesse

04-04-2011

General, Retail Thoughts

Last Wednesday Patricia and I (more on Patricia in my next post) headed out of the city to two very fun meetings. The first was for a demonstration of a high-tech Rational induction oven at Trademark Equipment & Supplies HQ in Ashland, MA. The second was a visit with the George Howell Coffee Co. at their HQ in Acton, MA. Let’s start with the GHCC visit…

I. George Howell Coffee Co. is one of the country’s top roasters and distributors of coffees. George Howell, its founder, is the pioneer for the enlightened coffee scene in the Boston area. George previously owned the Coffee Connection, which he sold to Starbucks in 1994 when Starbucks was making its move into the Northeast. GHCC doesn’t have too much in common with Starbuck’s nowadays though. George’s team has focused of late on sourcing some of the best coffee beans direct from farms across the globe, roasting them and making them available to us at high-end grocers, local cafes and restaurants. I first learned about GHCC when my sis Liza and her partner Marley were doing their due diligence for opening Crema Cafe in Harvard Square. Now, as CityRetail is talking with GHCC about a possible assignment, I figured it was about time to head to Acton, MA and see where it all goes down.

Patricia and I met our close friend Michael Staub at GHCC and as soon as we got there we jumped right in a with a cupping (“cupping” is coffee lingo for a tasting – see pic above) followed by some sourcing, roasting and brewing talk. We then saw the roasting in action. The visit was fun and educational and I’m now confident asserting that the GHCC team is as good as it gets.

The coffee that comes from GHCC’s roasters is outstanding and the level of competence and attention to detail is amazing. Being somebody who actively seeks out the best cafes in every city I visit, I’ve experience barista culture at its best and worst. At its worst, it has an elitist edge that looks down upon those who aren’t informed about the best coffees and the best way to drink such coffees. At it’s best though, it’s about enlightening people by introducing them to new coffees and new ways to drink it – it’s about education and inclusion. George, Rebecca, Jenny, Janet, Doug and the rest of the GHCC team falls into this later category – they get it and want to share it. It’s now CityRetail’s goal to help them share it too.

II. Prior to GHCC, we started our day out in Ashland, MA with the Trademark Equipment team… (read more)

The Other Side, II

By: Jesse

27-03-2011

General

One of my favorite posts from last year was “The Other Side,” wherein I wrote about the topic of (and challenges with) working for tenants versus landlords. In keeping with CityRetail’s entrepreneurial and experimental nature, it’s time to act on the above contemplations — now feels as good a time as ever to roll out several new projects with a select group of tenants. Here’s our nonnegotiable checklist when evaluating tenant clients: (i) top-notch experience? (ii) proper financing? (iii) passion/entrepreneurship? (iv) good people? and (v) non-competitive with other assignments (i.e. we don’t want two clients with substantially similar space/location requirements)?

Given the above and our comfort working with restaurants, you wont be surprised that our first cluster of clients are as follows:

Toro Restaurant, chef/owners Ken Oringer and Jamie Bissonnette. What Ken and Jamie have done at Toro (and Coppa) is incredible and I don’t need to say anything more to promote these guys than what the rest of the culinary world has already said.
Chef Steve “Nookie” Postal. Executive Chef, Boston Red Sox. Nookie brings to the table a really unique experience from his time with the Red Sox, where his team revamped Fenway’s premier food service dept. His restaurant will be quite different from Fenway Park though; it will be an intimate, chef driven, farm-to-table neighborhood establishment.
Chef Daniel Bojorquez. Executive Chef, Sel de la Terre. While Daniel has close to a decade’s worth of training at Boston’s flagship french restaurant, L’Espalier (most recently running sister restaurant Sel de la Terre in Natick), he’ll switch gears to a rustic neighborhood spot more in-line with the food he grew up cooking and eating in Northern Mexico.

I’m really excited about these three projects. They comprise a nice diversity of chefs with a range of experiences, accolades, concepts and requirements.

I strongly believe leveraging our last 3 years of work finding top-notch restauranteurs o/b/o some of the areas biggest LLs to now being engaged on “the other side” is a natural next step for CityRetail and an area wherein we can do some really fun and powerful work.

Stay tuned for more updates and shoot me a note at jesse@cityretail.com with any thoughts about the above or questions re: these three assignments and related requirements.

1154 Mass Ave

By: Jesse

26-01-2011

General

1663 Massachusetts Ave (the Lesley University leasing assignment we took on in October) is a week or so away from completion and we are really excited about the operator. Think great local bakery/cafe… I’ll get details out as soon as the lease is signed. In the meantime, here’s some info on a similar space (size, desired use, etc.) on the other side of Harvard Square that CityRetail just started working on yesterday.

1154 Massachusetts Avenue, Cambridge, MA is the former home of Arrow Street Crepes, which closed earlier this month. Despite the rap that was given to the landlord by the former tenant in the Harvard Crimson article published last week, I can say first-hand that the building owners care about small business, the neighborhood and want a successful and responsible long-term tenant. It’s CityRetail’s job to deliver such.

The space – approximately 750 square feet – sits at the corner of Arrow St and Mass Ave, has great street visibility and good foot traffic. It’s about 100 yards from Harvard’s campus and across the street from The Inn at Harvard. Specific deal terms are as follows:

Desired use is quick serve restaurant/cafe that does not require full kitchen exhaust;
Base Rent is $5,000/mo increasing at 3% annually;
Tenant shall pay its proportionate share (15%) of increases in Building taxes over base year 2010 and certain limited common area maintenance charges estimated at $180/mo;
Space sits directly above BerryLine’s first location on Arrow Street (same building) and other neighboring retail includes Grafton Street Pub & Grill, Crate & Barrel, Zoe’s Kitchen and Au Bon Pain.

I’m excited about this project and my sense is that we’ll rent it quickly. Shoot back thoughts and let us know what you’d like to see in this space.

Looking Back

By: Jesse

17-01-2011

Closed Deals

In late 2007, when my team first started kicking around the idea of doing some retail leasing, it was all about the 25,000 sf of vacant retail at the Watermark building (350 Third Street, Cambridge, MA) – this was our only project and our day one purpose. In early 2008 we started marketing the Watermark retail and shortly thereafter took on some other projects in Kendall Square. In 2009 we closed our first wave of deals and started to realize we were onto something. In 2010 we officially launched CityRetail and it was a year full of experiments: our first completed deal outside of Kendall Sq, our first project working on the tenant-side and the addition of a handful of new landlord clients.

Today, CityRetail’s reach extends beyond the Watermark (21,400 sf leased; remaining 3,600 under agreement) but our approach has been shaped by our past experiences. When we got started three years ago it was a grind and there were no shortcuts – it took a lot of work and diligence to get top chefs and small business owners to (i) come visit us in Kendall Square and (ii) take our vision seriously. In retrospect, I think 2008 was about educating and exploring – both ourselves and our tenant prospects. How could we recruit a restaurant without understanding the economics of the business, the challenges of building a kitchen and the players in the scene? How could we recruit that restaurant to Kendall Square without understanding and being able to articulate the opportunity, the challenges and the local players in neighborhood? Well, we couldn’t; and we didn’t. Over the past couple of years though we’ve learned a lot about the neighborhood and about restaurants, dry cleaners, gyms, yoga studios, grocery stores and day care centers… We’ve got a ways to go but we’ve become smart. Smart enough to know that this is still hard work and that we are only as good as our last project. Accordingly, here are CityRetail’s last four closed projects from Q4 2010, which rounded out a great year: (read more…)

7 for 7

Coffee, Seriously – Part II

Summer Lovers

Sushi, as requested.

Quick Update & Some Press

Meet Patricia

Field Trip

The Other Side, II

1154 Mass Ave

Looking Back

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