Revitalized Woburn Mall Seeking New Tenant to Add to Strong Mix of Stores Following Fabric Place Departure

The ideally-located, 21,000-square-foot space had been occupied by Fabric Place since 1979

WOBURN, Mass. - The departure of Fabric Place from the Woburn Mall has created an opportunity for a new tenant to join a growing roster of high-quality stores at the revitalized mall located at the junction of Interstates 95 (Route 128) and 93.

Over the past two years, DSW Shoe and Talbot’s have led an influx of strong new tenants as the Woburn Mall has simultaneously undergone a $25 million modernization that has been applauded by patrons and retailers alike, according to developers.

Woburn Mall officials are mourning the loss of Fabric Place, a family-owned business that has called the mall home for 29 years, but also point to the availability of a 21,000-square-foot space in a choice location as a rare opportunity for the right tenant.

“While we are disappointed to see Fabric Place close its doors, this is an exciting new opportunity for the Mall to further enhance the already strong tenant mix that is here today,” said Joseph Harnan, KGI’s Director of Leasing and Marketing. ”Our primary goal is to find a secure national or strong regional tenant who will complement the existing stores and build on the quality of tenants we have recently added.”

The Fabric Place space, which will be available beginning February 2009, is situated in a central, high-profile location between two popular new stores – DSW Shoe, the national shoe retailer, and Talbots Outlet, a clothing retailer.

“This signature location is ideal inside the mall, with an entrance from center court and a storefront with two window displays, the space has the ability to expand from 21,000 square feet to 25,000 square feet,” Harnan said. “Given the Woburn Mall’s location at the junction of the region’s two primary arteries, Routes 95 and 93, this location offers billboard-like exposure to Route 95 and ease of access from virtually any direction.”

Fabric Place thrived inside the Woburn Mall for many years, but the sluggish economy got the best of the home-grown company that grew from a 3,600-square-foot Kendall Street shop to the largest fabric chain in New England.

Fabric Place was at its peak earlier this decade with seven stores. But soft sales forced the company to contract, and Fabric Place recently announced the closure of its remaining stores in Framingham and in the Woburn Mall, which was considered its strongest retail location.

“The Woburn Mall has a strong loyalty to Fabric Place. They’ve been a wonderful tenant and are certainly going to be missed,” said Lori Medeiros, General Manager of the Woburn Mall. “They’ve been here from the beginning in 1978, almost as long as Market Basket. Fabric Place has seen the Woburn Mall grow and evolve over the years.”

The most ambitious revitalization has occurred in recent years. The modernization effort is almost complete, with finishing touches underway.

The recent addition of café seating at Center Court has received highly positive feedback. Patrons now have an area to enjoy a cup of coffee with friends, and professionals can conduct casual meetings in the space.

Mall officials have received positive feedback from customers. “Those who previously frequented Woburn Mall are thrilled with the improvements and find shopping here to be a more enjoyable experience,” said Harnan. “With the addition of retailers such as Sports Authority, DSW Shoe, AT&T and Talbot’s Outlet, and the restaurant Sarku Japan, the tenant mix is not only drawing local shoppers from the Woburn community, but also is attracting new patrons from a wider radius.”

In addition to the newer retailers, tenants such as T.J. Maxx, Home Goods and Panera Bread have recently renovated their stores, and CVS plans to undergo a renovation this fall. Market Basket has added 8,000 square feet and completely renovated its supermarket.

KGI Properties purchased the Woburn Mall on Mishawum Road in 2001.

KGI is a full-service owner, development, management and construction firm with a diversified portfolio and 2.7 million square feet of property under management. The firm specializes in retail, office, industrial, multi-family and assisted living facilities. With offices in Boston, Providence, Woburn, and Lebanon, N.H., KGI (www.kgiproperties.com) is one of the Northeast’s most active and experienced developers of retail real estate for regional and national clients.

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