Fast-casual restaurant chain Panera is moving its corporate headquarters to Greater Boston from St. Louis.
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Panera CEO Paul Carbone told employees last week the company would move its headquarters to Weston, Massachusetts. He didn't say the address and size of its office, but the Weston Observer first reported that deed records show Panera signed a 102K SF lease at BXP's 133 Boston Post Office Road.
The company plans to lease space on the fourth floor with the option to renew for two additional five-year terms.
It is unclear how many employees will make the move to the new headquarters, but Panera plans to maintain its St. Louis support center.
The move was sparked by the company's Panera Rise three-year business strategy. The plan aims to update the restaurant's menu, increase value, prioritize the guest experience and expand its network.
In January, the company announced the closure of its bakery in Franklin, Massachusetts, and laid off nearly 100 workers.
The restaurant chain was founded in 1987 and operates more than 2,200 company-owned and franchised cafés in North America. The company has 64 locations in Massachusetts.
SALES
The Davis Cos. sold a Fenway apartment portfolio at 11-19 Peterborough St. and 19 Queensberry St. for $37.5M to an entity linked to investment firm Egeria Group. The 93-unit apartment portfolio is spread across two four-story buildings. Boston Realty Advisors' Jason Weissman and Kevin Benzinger brokered the deal.
The Cornerstone at Westford shopping plaza sold to Jacksonville, Florida-based Regency Centers for $74M, the Boston Business Journal reported. The 236K SF shopping plaza's seller was RAVentures. The plaza is 98% leased, including to Marshalls, Petco, Five Guys, Panera and anchor tenant Market Basket.
Calare Properties and Equity Resource Investments sold a 103K SF self-storage facility at 1 Wesley St. in Malden for $22M, according to a July 6 deed record. The buyer in the deal was Hearthfire Capital. The 717-unit facility includes a replaced roof and HVAC system and a renovated lobby and offices. The property also has a 25K SF warehouse leased to Vancouver, British Columbia-based logistics company UniUni. Marcus & Millichap's Nathan Coe, Gabriel Coe and Brett Hatcher brokered the deal.
LEASES
Aldeyra Therapeutics signed a 5K SF lease at 23 Bradford St. in Concord, according to a Securities and Exchange Commission filing. The lease is set to commence on Sept. 1 and will run for three years. The space will act as the company's corporate headquarters. The office and coworking campus is owned by entrepreneur John W. Boynton.
PERSONNEL
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Wingate Living hired Julie Decoteau as executive director and Devon Gallivan as marketing director. Decoteau brings more than a decade of assisted living experience and an additional 10 years of healthcare experience. Gallivan will join the team at Wingate Residences at Pleasant Bay. She has 15 years of senior living marketing experience.
Foxfield hired Matt O'Connell as director of asset management, Robert Werdann as senior financial manager, Brandon Binsfield as senior facility manager, and Charles Zigliara as associate of acquisitions. The hires come as the company has been expanding across the East Coast. The firm acquired two properties in North Carolina's Research Triangle region and Lynnway Park in Lynn.
CONSTRUCTION AND DEVELOPMENT
Waltham City Council overturned its mayor's veto to advance new zoning that would pave the way for the creation of up to 1,200 residential units on an office park site, The Boston Globe reported. The project, brought forth by landlord BXP, would convert the 135-acre office park known as Bay Colony. The rezoning comes after the city voted to rezone two other districts set to bring an additional 900 units.
