Friday, May 25, 2018

Eastern Massachusetts Retail Report Preview

KeyPoint Partners
The 2018 KeyPoint Report for Eastern Massachusetts/Greater Boston, based on our proprietary GRIID™ retail database, is in production and should be available by the end of June. While you’re waiting, here’s a preview - but consider these results preliminary and subject to change:

Vacancy Rate: Eastern Massachusetts experienced a substantial rise in the vacancy rate to 9.4% this year from a level of 8.6% in 2017, reflecting a 10.4% increase in unoccupied space. At the same time total inventory ended the year at 196.4 million square feet, a gain of 1.0%, nearly the same square footage as the increase in vacant space. This resulted in a nominal positive absorption rate of only 104,000 square feet. A considerable number of large format store closings and chain liquidations were responsible for the disappointing outcome, which could have been even worse without a significant number of retail conversions to non-retail space cushioning the impact . . . more