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      Q3 2015 Boston Retail Market Update

      Boston's retail market also remained strong in Q3 2015. Vacancy was down to 3.7% at the end of the quarter, compared with 3.9% in Q4 2014. Asking rent rates were also up - at $17.83/SF, up 5.38% from four quarters earlier. (Remember, those averages are across the greater Boston area - in Q3 2015, average quoted rent rates were $90.80/SF in the Back Bay and $110/SF in the Midtown/Downtown Crossing area).

      As the chart above shows, there is not a great deal of new construction retail space scheduled to be delivered in the next year - and much of what is, has already been committed to tenants.

      Sale prices have trended generally up. The chart below is a little deceiving in the sense that it covers so many different areas. However, I wanted to share it because it shows how strong 2015 started for Boston retail (data for the 2nd half of 2015 will be out in the coming weeks).

      Contact Eric Shabshelowitz, our Vice President of Commercial Real Estate, if you have any questions about or need help with Boston retail space.

       

       

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