Charley’s Eating and Drinking Saloonon Newbury closed its door’s less than a week ago. Now Frye Boot Co. is looking to open up shop in Charley’s place. Looking to sign as early as Friday, the 8,000 square foot property will undoubtedly be off the market soon.
Frye Boots is a 149-year-old company, and has its first store location in Marlborough, Ma. They wish to take the high-profile location at 284 Newbury Street. “Frye has a letter of intent for the space and a lease with rent upwards of $90 per square foot could be signed as early as Friday, sources said.” (Boston Business Journal)
The location is in a prime spot for a retail location. Charley’s is right on the corner with lots of visibility. “While the rent seems outrageous for a retailer, some companies prefer to lease on Newbury because it’s an international street with cache, another source said” (Boston Business Journal)
“Charley’s was shuttered earlier this week after the restaurant failed to negotiate a new lease. Tavistock Restaurants acquired Charley’s last year from the Back Bay Restaurant Group. The firm also operates Abe & Louie’s, Atlantic Fish Co., Joe’s American Bar & Grill and Coach Grill.” (Boston Business Journal)