Construction Begins on Crate & Barrel Store

The property owner, 1200 Post Rd. E. LLC, has gutted the main building down to the steel and is now redeveloping the main building to accommodate the new Crate & Barrel store. Managing partner Peter van Witt says that his firm will be redeveloping two smaller buildings in the back of the property totaling 20,000 sf and is looking to secure tenants that will complement the Crate & Barrel store. The property is now being renamed "the Galleria." The main building that will house Crate & Barrel will be connected to the other smaller retail buildings via walkways.

"What I am looking for is to make this a destination," van Witt says, adding that he is hoping to land tenants "that have something to do with a home." For example, van Witt notes that tenants that would have a synergy with Crate & Barrel include: home electronics, home lighting, tile retailers and other home décor and accessories concerns.

He relates that securing Crate & Barrel was a real coup. "It is my understanding that Crate & Barrel was looking in Westport for approximately 15 years," van Witt says.

Cushman & Wakefield is the exclusive leasing agent for the property. James Fagan, managing director and Adam Klimek, associate director, are working on the assignment. "The Galleria is poised to become one of Fairfield County's most desirable shopping destinations," Fagan says. "This is a prime Westport retail location, and with Crate & Barrel as the anchor tenant we expect tremendous leasing success. This will become a much sought after location for any retailer looking to capture Fairfield County's home furnishings business." He adds that Crate & Barrel is expected to open for business in early summer 2008.

Fagan notes that the significant redevelopment work to the main building is necessary because the Town of Westport currently limits all new commercial construction to 10,000 sf with a maximum floor plate of 5,000 sf. Therefore building owners have to turn to redevelopment in order to grandfather previous allowable density levels and permitted uses.

The property was purchased by the van Witt-led partnership three years ago and was 75% vacant at the time. The Galleria property also includes a fourth building totaling approximately 2,500 sf that is the home of the Dream Spa.

Crate & Barrel, headquartered in Northbrook, IL, has more than 145 locations in the US. Its only other Connecticut location is in West Hartford. The home furnishing retailer has five locations in New York State, including two in New York City; one on Long Island; one in White Plains and one in Orange County.