The Natick Collection, formerly known as the Natick Mall until February 2007, is a large shopping mall owned by General Growth Properties (GGP), located between routes 9 and 30 in Natick, Massachusetts and adjacent to Shoppers World in Framingham, Massachusetts. After the most recent expansions in 2007 and 2009, the mall now has 1,900,000 sq ft (177,000 m2) leasable area and over 275 retailers.
Recession of 2008-2009
As with the rest of the United States, the recession of 2008-2009 cast a serious pall over the mall expansion. By December 2008 the sales of condominiums in Nouvelle at Natick were behind projections, with only 34 of the 215 units sold or under contract. Real estate agents in the Metrowest area have stated that the prices of the units, ranging from $379,900 to over $1 million, combined with the timing of the opening of the facility have seriously hampered sales. Several real estate agencies have stated that General Growth, or its successor pending its bankruptcy case, will need to lower its prices for the units to attract consumers in tight economic times. Additionally, home sales in the Natick and Framingham area are traditionally oriented towards single family homes which are also working against the residences.
On September 10, 2009, the Boston Globe reported that Nouvelle, the condominium complex at the Natick Collection, would auction off 42 of the 215 units, with bids starting as low as $160,000.
Tenants
Anchors
J.C. Penney, 210,000 sq ft (20,000 m2) - originally Jordan Marsh, converted to Macy's 1996.
Lord & Taylor, 115,000 sq ft (10,700 m2)
Macy's, 210,000 sq ft (20,000 m2) - originally Filene's, converted to Macy's 2006
Sears, 190,000 sq ft (18,000 m2)
Neiman Marcus, 112,000 sq ft (10,400 m2)
Nordstrom, 144,000 sq ft (13,400 m2)
Crate and Barrel, 80,000 sq ft (7,400 m2)
