Lab space and 41K-sq.-ft. expansion planned for former Neiman Marcus unit at Natick Mall
Photo | Natick Planning Board
A rendering of the three-story research and development facility proposed at the former Neiman Marcus unit at the Natick Mall
At a Wednesday night planning board meeting in Natick, developers detailed plans for the Natick Mall’s former Neiman Marcus department store, which Boston real estate firm The Bulfinch Cos. bought for $12.6 million late last year.
Bulfinch is proposing a three-floor, 135,000-square-foot research and development facility including office, medical, and lab space at 310 Speen St., according to plans submitted to the Town. The plans outline a mechanical penthouse and chemical storage area, as well as a lobby area and outdoor terraces.
As it stands now, the property is a two-story, 94,000-square-foot unit contingent to the Natick Mall, which is New England’s largest mall by tenants and square footage. The majority of the mall besides the Speen Street unit is owned by New York-based Brookfield Properties.
The plans aim to open the building up to the street and engage foot traffic with windows and outdoor seating, Bulfinch President Robert Schlager said at Wednesday’s meeting.
“Currently, it is essentially a black box; there’s no relationship from the street inside,” he said. “The opportunity to provide a workplace environment for lab or office or R&D tenants, and the opportunity to create windows into this facade and create a relationship with the public realm, we think is a real benefit to the neighborhood.”
The proposed third-floor addition would be set back, allowing for the terraces and creating a green roof space that tenants can look out onto. The mechanical penthouse on the top floor would be shielded in by a 24-foot screen wall to hide the mechanical equipment, providing up to 98% coverage, Schlager said.
In December, when Bulfinch acquired the property in partnership with Chicago investment management firm Harrison Street Real Estate Capital, Bulfinch did not disclose development plans beyond stating it would reposition the property to meet current demands. The Natick Mall is located roughly 16 miles west of downtown Boston, which has been a hub for life sciences but has a near 0% vacancy rate for lab space, according to real estate firm Colliers.
Bulfinch has completed similar projects, such as its 2012 redevelopment of the Atrium Mall in Chestnut Hill into an office and medical center.
Neiman Marcus holds a lease through September, and will continue to operate until then, according to Bulfinch’s website. The retailer filed for bankruptcy in May 2020.
The planning board did not make a final decision on the plans Wednesday, and said there will be several more public hearings before anything is approved.
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