There are a number of disconcerting retail vacancies along Stockwell Drive which is located off Route 24 near the border of Avon and Stoughton. You may not know the name of the street but you’ve most likely driven on it if you’ve ever visited IKEA. What’s the problem?
The owner of the properties in question is a company named F. X. Messina Enterprises. F. X. Messina owns the vast majority of the retail properties along Stockwell Drive. Some of F. X. Messina’s current tenants include Christmas Tree Shops, New Balance, NTB, Petco, Staples and more. Some of F. X. Messina’s past tenants include AT&T, Michael’s, Newbury Comics and Party City. Michael’s has recently opened a new store located at 1360 Park Street, Stoughton.
The most disconcerting issue is that many of the spaces seem to have been vacant for A VERY LONG TIME. There is over 100,000 square feet of vacant retail space owned by F. X. Messina along Stockwell Drive and that’s A LOT OF VACANT SPACE. You can go to FXMessina.com in order to take a look at their listings.
Here’s a list…
- 25 Grant Drive, Avon – 4,400 square feet
- 1 Harrison Boulevard, Avon – 5,200 square feet
- 1 Harrison Boulevard, Avon – 8,680 square feet
- 15 Stockwell Drive, Avon – 1,500 square feet
- 15 Stockwell Drive, Avon – 2,250 square feet
- 15 Stockwell Drive, Suite B, Avon – 15,000 square feet
- 20 Stockwell Drive, Avon – 5,000 square feet
- 20 Stockwell Drive, Avon – 17,000 square feet
- 75 Stockwell Drive, Avon – 1,200 square feet
- 75 Stockwell Drive, Avon – 11,156 square feet
- 75 Stockwell Drive, Avon – 18,853 square feet
- 75 Stockwell Drive, Avon – 23,412 square feet
- 99 Central Street, Stoughton – 3,000 square foot building
What do you think? Is F. X. Messina the issue? That’s the easy answer, right? There’s always a dance between landlords and tenants and tenants are clearly saying that they either can’t afford or don’t want to pay the asking rents along Stockwell Drive.
Or is it a larger issue? The “Amazon effect” seems to be having a very real effect on retailers of all shades and stripes. CNBC tackled the issue in a recent post entitled “The Amazon effect is hitting the apparel industry” on July 10th, 2017.
I’ve noticed a similar issue at Cobb’s Corner, but not so severe, at The Village Shoppes at Cobb’s Corner. That landlord, The Wilder Companies, has lost tenants like Gap, The Halfway Café and White’s Bakery but has generally been able to replace tenants, in a timely manner, with new tenants like Cornerstone Grill and Bar, Gourmet Garden and Partners Urgent Care.
99 Central Street, Stoughton might be the most obvious vacancy for Stoughton residents since it’s located off Exit 19B of Route 24.
It’s an eyesore.
I left a voice mail for Ron Cibotti, the Director of Leasing, yesterday in anticipation of writing this post but I haven’t heard back from him yet and I’ll update this post if he responds.
EDIT: Ron called me the day after this was originally posted and his thoughts are elucidated in a post entitled “Update on Stockwell Drive…“.
I’d love to read your comments so feel free to comment below…