Waldman of Waldman & Associates leases 15,000 s/f to Broderick Gymnastics
East Walpole, MA Dan Waldman of Waldman & Associates negotiated a 10-year lease for 15,000 s/f with Broderick Gymnastics at the Walpole Mall, 90 Providence Hwy.
Waldman represented the owners of the mall and Elliot Ravech of Elliot & Co. represented the tenant.
The 400,000 s/f mall was originally designed as an indoor mall, but over the years it became a hybrid with a strong exterior presence featuring many of the best retailers and restaurants in the U.S. The interior was facing a challenge with a drop off in foot traffic and vacancies mounting. The latest retailer to reposition from the interior to the exterior was Jo-Ann Fabric leaving a 15,000 s/f vacancy. Jo-Ann Fabric expanded into a 25,000 s/f space.
Waldman, Ravech, and the gymnastic studio toured the mall and realized the potential of the space. Terms and length of the lease were quickly agreed upon, but the big obstacle was turning a 14’ ceiling retail space into a 20’ ceiling gymnastic studio. With the help of Nathan Langlais from BKA Architects the solutions were found and the Broderick Gymnastics studio opened this past fall.
“This was a collaboration between Brodericks Gymnastics, Elliot Ravech, BKA Architects, and the landlord to put this complex transaction together. It was a pleasure to work with everyone,” said Waldman. “We are thrilled that they will be our tenant for the next 10 years.”