Eight prospective tenants close to signing leases at Bedford's Market and MainBy KIMBERLY HOUGHTON
Union Leader Correspondent
November 15. 2017 10:02PM
BEDFORD — About eight potential tenants are preparing to sign leases for the Market and Main development at the old Macy’s site — including REI, Athleta, Pressed Cafe, CycleBar, European Wax and MidiCi.
“They are very close to getting done,” Mike Nelson, senior vice-president and director of leasing with Encore Enterprises, said Wednesday of the leases. “There really is going to be a dynamic lineup.”
Nelson said a local hotel group is working to identify its brand before officially moving forward with a lease; discussions are ongoing with a cinema. Other tenants that have already formalized leases include Trader Joe’s, Red Heat Tavern and The Friendly Toast.
“They are in a hurry to get open,” Nelson said of Trader Joe’s and The Friendly Toast, which will be housed in the front portion of the new South River Road development near the existing Carrabba’s Italian Grill restaurant.
Next week, representatives from Encore Enterprises will approach the Bedford Planning Board. Nelson said the developer is recommending that the project be split into three phases, which would allow Encore Enterprises to possibly turn over space to Trader Joe’s and The Friendly Toast by October 2018.
He anticipates some of the new tenants will formally sign leases by December.
Athleta is a popular women’s athletic clothing store; REI is a large retail outdoor clothing and sporting goods store. Pressed Cafe features salads, smoothies and juice, while MidiCi is a Neapolitan pizza restaurant.
CycleBar is an indoor cycling franchise and European Wax is a hair removal salon.
Last September, the town planning board granted conditional approval for the large mixed-use development at 125 South River Road. Encore Retail LLC has slowly revealed more details about potential tenants for the 355,708-square-foot complex, which is also expected to include medical offices and a parking garage. Developers said previously that the Market and Main project could create more than $1 million a year in tax revenue.
Boston Interiors and Orangetheory Fitness were also interested in the Market and Main space, but ultimately leased in nearby locations. Nelson said they needed to open sooner than was possible at Market and Main.