globe retail outlook data

 

  • Retail
  • Office
  • Log In
https://smg.cbre.com/images/default-source/default-album/header-image.jpg?sfvrsn=69c20d96_0

Retail By City

city rank #39

City Overview

The Greater Boston retail market continues to strengthen as a result of on-going absorption of retail space in primary markets and slower but improving interest in and commitment of space in secondary markets.The Downtown Boston Retail market continues to tighten across all submarkets as retailers and restaurants continue to lease space at an aggressive pace. As supply continues to diminish, retail rents have reached near or above historical highs across the city as bullish property owners attract the demand of lease prospects. Mixed-use development and redevelopment throughout Boston is adding over a million square feet of new retail space, offering rare, large format retail space to the market. As a result, retailers, such as department stores, wholesale clubs and supermarkets that were once challenged in finding urban lease opportunities, are now competing for space and securing long-term leases in Boston. The Back Bay, Boston's core submarket, continues to lease to capacity. Along with the new development in other urban submarkets, emerging retail markets are being created and attracting anchor and non-anchor retailers, specifically Boston's Fenway and Seaport District. Notably, the Downtown Crossing submarket, which has struggled for years to improve its perception and retail appeal, has become one of Boston's most sought-after neighborhoods due to significant infrastructure improvements and new mixed-use development. Retail rents in Downtown Crossing have increased to levels comparative to Boston's Back Bay, and recent anchor deal announcements and successful restaurant and theater openings have solidified the submarket as a viable retail destination. Overall, Boston is thriving, with rumblings of concern over dwindling space compared to increasing retail demand.

Things to do

See

Work

Apple Store, Prudential Center, WeWork Boston, Post Office Square


Rest

Boston Common, Boston Public Garden, Rose Fitzgerald Kennedy Greenway, Waterfront Park, The Lawn on D


And be seen

Eat

Mastro's Ocean Club, Earl's, Boston Chops, Ruka, Mistral, Legal Harborside, Row 34, Eataly/Terra, Menton, The Smoke Shop, Eventide, O Ya, Bar Mezzana, Grill 23, Neptune Oyster


Drink

Yvonne's, Drink, Lolita, Eastern Standard, The Envoy Hotel, Oak Bar, Haley.Henry, Carrie Nation, Beerworks, Parla, Wink & Nod, Scorpion Bar, Ward 8, Coppersmith, Shojo


Be Merry

Harpoon Brewery, Trillium Beer Garden, Kings Dining & Entertainment, The Grand, Cheeky Monkey, A4cade, TD Garden