Millennium Partners: Primark Department Store Set To Open At Burnham Building In Late 2015
Millennium Partners Signs Primark as Burnham Building Tenant, Bringing Four Floors of Fashion Back to the Site of the Former Filene’s Store One of Europe’s Largest Clothing Retailers to Open Flagship Store at Millennium Tower/Burnham Building in Downtown Boston
BOSTON (April 23, 2014) – Millennium Partners, developer of the award-winning Ritz-Carlton Hotel and Towers and other acclaimed projects in Boston and around the country, today confirmed that Primark, the Dublin, Ireland-based fashion retailer, will open a store at the Millennium Tower/Burnham Building in Boston’s Downtown Crossing.
Primark, founded in 1969, is one of the largest clothing retailers in Europe which offers quality, up-to-the-minute fashion at value-for-money prices, signed a lease to occupy four floors, totaling 112,000 square feet of which some 70,000 square feet will be selling space. The Burnham Building, the former longtime headquarters of Boston’s Filene’s Department Store, will now be home to a Primark flagship store. The new store is scheduled to open in late 2015.
“We are excited to be taking Primark to the north east of the USA and delighted to be part of this historic development in Boston’s Downtown Crossing. This is anothr important chapter in the ongoing development of the Primark brand,” said Paul Marchant, Chief Executive Officer of Primark.
“No other retailer in the world suits this location better than Primark. It is a great privilege to be able to bring them to Boston,” said Christopher M. Jeffries, Founding Partner of Millennium Partners. “Our goal is to bring great architecture and great urban centers to great cities. In Primark we have a best-in-class, price-leading fashion retailer that all Bostonians can enjoy.”
The renovation of the Burnham Building, originally completed in 1912 for Filene’s Department Store and the only structure in Boston designed by legendary Chicago architect Daniel Burnham (1846-1912), began in summer 2013. Restoration is part of Millennium Partners’ $689 million redevelopment plan for the vacant site of the former Filene’s Department Store. Adjacent to the Burnham Building will be Millennium Tower, a striking 625-foot new building comprised of 442 luxury residences above 95,000 square feet of additional retail space on its lower floors.
The Burnham Building/Millennium Tower mixed-use project will encompass a harmonious pairing of old and new, and leverage its tenant mix – which now includes Primark, Havas Media/Arnold Worldwide, and Roche Bros. supermarkets – to ensure a vibrant 24/7 city center.
Centrally located at a public transportation hub within easy walking distance of all five MBTA “T” lines and the South Station commuter rail terminal, this preeminent location boasts a pedestrian count exceeding 51,000 persons per day, making it the most heavily trafficked corner in Boston, comparable to pedestrian activity in New York City's famed Fifth Avenue and SoHo shopping districts.
Millennium Partners’ latest project follows the company’s success with The Ritz-Carlton, Boston Common Hotel and Residential Towers, and Millennium Place, which sold out earlier this year to become one of the fastest selling condominium developments in Boston’s history.
Representing Millennium Partners in the lease transaction was real estate broker Gene P. Spiegelman, Vice Chairman of Cushman & Wakefield.
Primark is one of the largest clothing retailers in Europe, headquartered in Dublin, the Republic of Ireland and is owned by Associated British Foods, a diversified international food, ingredients and retail group. Today it is trading from 271 stores, 9.7 million sq ft, and employs 51,200 people in the Republic of Ireland, UK, Spain, Portugal, Germany, the Netherlands, Belgium, Austria and France, where it has recently opened its first four stores. It was founded in June 1969 in the Republic of Ireland, where it continues to trade as Penneys.
Primark offers customers quality, up-to-the-minute fashion at value-for-money prices. Buying and merchandising teams travel internationally to source and buy garments that best reflect each season’s key fashion trends. Primark’s range includes womenswear, lingerie, childrenswear, menswear, footwear, accessories, hosiery and homeware.
Primark sources products from a number of countries in Europe and Asia. It believes it has a responsibility to act and trade ethically, has a duty of care to workers throughout the supply chain and is a signatory to the United Nations’ Guiding Principles on Business and Human Rights. It operates in-country teams of ethical trading experts and last year conducted over 2,000 factory audits.
Primark’s organic growth has been achieved through a combination of like-for-like growth and increasing selling space. Sales in the last five years have more than doubled and revenue for the last financial year was 22% higher than the previous year.
Associated British Foods is a diversified international food, ingredients and retail group with sales of $22.34 billion and 113,000 employees in 47 countries. It has significant businesses in Europe, southern Africa, the Americas, China and Australia. It aims to achieve strong, sustainable leadership positions in markets that offer potential for profitable growth, and deliver quality products and services that are central to people’s lives. The business comprises five segments: Retail; Sugar; Agriculture; Grocery; and Ingredients.
About Millennium Partners
Founded in 1991, Millennium Partners is an internationally recognized residential developer of luxury mixed-use properties, responsible for dramatic showcase properties in some of the nation’s most dynamic urban locations. Millennium Partners has created an unparalleled portfolio of 27 properties that bring together luxury condominiums, state-of-the-art entertainment complexes, world-class spa and fitness facilities including The Sports Club/LA, Class-A office space, and five-star hotel brands, including The Ritz-Carlton Hotel Company LLC and Four Seasons Hotels and Resorts. http://millenniumptrs.com/
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