Wegmans | Natick, MA

Size: 45,000 SF

Sector: Retail (Grocery)

Wegmans-Logo.jpg

Service: Property Disposition

Technology and tenacity

solved an expensive problem for Wegmans.

The Need

Wegmans hired BellCornerstone to help lease 45,000 sf of unused space in their Natick, MA location. The difficulty this requirement presented was the layout of the space itself. Located on the third floor of a shopping mall (former JC Penney), the space was only accessible through Wegmans and it had no exterior windows. Furthermore, Wegmans was intent on finding a complimentary use of the space with minimum build-out to limit disruption to the grocery store’s operations. In order to find a tenant for such a challenging space, the BellCornerstone team had to develop a creative approach to not only get the space in front of prospective tenants, but also cast the vision for what the space could be.

The BellCornerstone Approach

The first step was to capture a 3D rendering of the space which allowed us to market the opportunity electronically to thousands of companies in our database. Next, all emails were followed up with a telecommunications campaign whereby 1800+ telephone calls were placed into the greater Boston market to generate visibility and hype about the opportunity to co-tenant with Wegmans. The culmination of these efforts was a 2-day onsite tour and luncheon attended by 35 companies, commercial real estate firms, and local government officials. This invite-only event created much visibility, collaboration, and ideas for potential use.

The Result

As a direct result of the multilevel BellCornerstone approach, and within just 60 days of being hired, BellCornerstone found several interested prospective tenants and within 90 days after being hired, BellCornerstone had received a letter of intent, resulting in a signed lease for the entire 45,000 sf.