Boston Realty Advisors has been exclusively retained to sell the retail condominium interest at the Shops at the Belclare, Wellesley, located in Wellesley, Massachusetts, one of Boston’s most affluent suburbs. Belclare Wellesley consists of +/- 9,474 square feet of ground floor retail and/or restaurant space located in the high end city center of historic Wellesley Square.
Completed in 2016 Shops at the Belclare, Wellesley was thoughtfully designed to incorporate the traditional local architecture while activating the streetscape to attract foot and car traffic. The property is leased to a strong mix of experiential retailers, the majority of whom have roots in some of Boston’s most prominent shopping corridors including: Lash L’Amour, Barber Walters, La Mia Moda, CouCou, Agnes Optical, Legit Activewear, Laer Realty and Atelier.
Substantiating the areas strength, Smith & Wollensky recently opened a new location immediately across the street. Fiorella’s Express, a fast casual Italian eatery, also opened a new restaurant in Church Square.
The twenty-five residential condominium units above The Shops at Belclare were completely sold out with prices ranging from $1,500,000 to $3,000,000 and an average sale price of over $1,000 per square foot. The residential component provides daily pedestrian traffic to The Shops at Belclare, Wellesley.
Shops at Belclare, Wellesley is a prime location for incoming retailers and restaurants due to its location within the heart of Wellesley Square. It was recognized by Boston Magazine as one of the “Best Places to Live 2018.” The vibrancy of the town and the highly dense and affluent population create a synergy that is often hard to come by in a suburban setting.
We will conduct tours over the next several weeks with a call for offers to follow.
Belclare Wellesley represents an irreplaceable opportunity for investors to acquire a brand
new luxury retail condominium interest
in one of Boston’s most dynamic and affluent
urban suburban centers.
Wellesley is one of the most sought-after, successful and attractive towns in Massachusetts. As such, Wellesley is a mature residential community where new commercial development is severely constrained as the majority of the land is zoned for single-family residential use.
Strong Surrounding Co-tenancy
Wellesley is known as a small town but has an extremely vibrant and walkable retail environment. Wellesley attracts strong local and national retailers including the famous Smith and Wollensky, White’s Bakery, Whole Foods, Peets Coffee, Orangetheory Fitness, J. McLaughlin, Juniper Restaurant, Fiorella’s Express, Cache, and CVS to name a few – as well as many unique stores.
Established Retailer Mix
Most of the retail tenants at The Shops at Belclare, Wellesley are established retail operators coming from main street retail avenues in other prime markets. To name a few; Lash L’Amour has other locations on Newbury Street and Newton Centre, CouCou’s other boutique is on Union Park Street in Boston’s South End, Legit Activewear has roots in The Street Chestnut Hill, and Barber Walters comes from the Nob Hill neighborhood of San Francisco.
Affluent Residential Base
The Wellesley residential real estate market is one of the most impressive in the state. According to MLS, the average sale price of a single family home is upwards of $1,605,041. The average household income is $244,165 and average disposable income is $144,167.
Completed in 2016, the The Shops at Belclare, Wellesley are prominently situated in the center of Wellesley Square and provide frontage on both Washington and Grove Street. Its aesthetically pleasing look paired with black iron venting option and brand new systems, offers prime tenancy opportunities for both existing and incoming retailers and restaurants.
Wellesley is conveniently located at the confluence of two major interchanges, Route 129/ I-95 at the Mass Pike (I-90) and Route 9. Additionally, train access is only a short walk away allowing the The Shops at Belclare, Wellesley to draw traffic from a 15-mile radius which includes Downtown Boston.
The Shops at Belclare, Wellesley is a recently completed mixed-use development in the heart of Wellesley Square spanning across both Washington Street and Grove Street. The sleek and modern design of the building gives The Shops at Belclare, Wellesley the ability to stand out from the rest. Classic meets contemporary with Belclare’s transitional clapboard and limestone architecture with a softer and elegant exterior presence reminiscent of European structures. In order to honor the former Wellesley Inn that was located here, the original columns have remained in place and act as a beacon to guide residents and shoppers to the elegantly and intricately designed building. Each of the twenty five residential units situated above the retail spaces include sweeping views of the town center or the tranquil Belclare garden, as well a private bluestone patio or mahogany-decked balcony or terrace.
The Shops at Belclare, Wellesley are separated into three different sections allowing for a wide range of retailers and restaurants to join the bustling Wellesley square streetscape. National and local tenants line the streets from all angles and provide a healthy vibrancy and dynamic retail mix that services Wellesley residents year-round. The proximity to the I-95 allows for accessibility traveling in and out of the city, and the Wellesley Square commuter rail stop services the area from Boston to Worcester.
WASHINGTON STREET RESTAURANT PLAN
1,228 SF / 985 SF / 966 SF
WASHINGTON STREET RETAIL PLAN
1,416 SF / 805 SF / 774 SF / 633 SF / 950 SF
Grove Street Retail Plan
774 SF / 943 SF