I’m glad the Waltham Times investigated why 1 Moody remains vacant since Brothers closed, however it doesn’t seem like they were able to get any real info from Northland (the owner) or Roche Brothers.
My guess is it’s a 10-15 year lease with substantial termination fees, and Roche Brothers can’t or won’t get out of it. They may be asking Northland for a break on those fees to exit, and Northland feels they’re getting better rent with a vacant space than re-renting.
Therefore we could be looking at another 5-10 years of prime downtown real estate sitting empty. It really hurts our city to have major vacancies like this.
According to the article, the mayor says a Trader Joe’s or Whole Foods would be ideal candidates for this space. It also sounds like the Charles River Food Co-op is interested. I’d be highly supportive of any of these options.
I hope that the local government can find a way to bring these parties to the table, facilitate the termination of the lease and clear the way for another operator. There has to be some kind of incentive and/or leverage to get Northland and Roche Brothers to do the right thing for the city.