Around the Region

Tiffany plans Newton mall move

By Jenn Abelson
April 28, 2011

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Luxury jeweler Tiffany & Co. is planning this fall to close its large shop at the Atrium Mall in Newton and move across the street to the Mall at Chestnut Hill.

It’s the latest high-profile tenant to leave the struggling Atrium Mall, which has an estimated 25 percent vacancy rate, according to KeyPoint Partners, a Burlington commercial real estate service firm. Simon Malls, which owns both properties, declined to comment on the planned move.

A Tiffany’s employee confirmed the jeweler will operate its Atrium shop until the new location opens at the Mall at Chestnut Hill around October. The Globe reported last year that Simon was looking to sell the Atrium Mall, and property officials in December said they had a remerchandising plan for the shopping center. The Atrium mall has lost major retailers including Borders bookstore, Abercrombie & Fitch, and Williams-Sonoma in recent months.

“There is a very specific strategy in place for both properties,’’ Ron Hanson, of Simon, said in a statement. “While the specifics of our strategy are not able to be communicated at this time, we look forward to sharing specifics as the plan is finalized.’’

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