3 Responses to “Missing: Tenants on Newbury Street” »»

1. Funny
   Comment by Funny | 03/19/10 at 6:10 am

   Rents are even stickier then wages, even more so with small business commercial real-estate. How’s the vacancy rate looking right now John, residential and commercial? I know you said residential in the fall saw around 1100 empty units in Boston, something unheard of.

   Have landlords lowered their rents? Or are they “waiting it out”.

   Just another example of why Econ 101 was a intro class. Markets do some really weird things when human irrationally and herd behavior is applied to them, especially in down times.

2. The Newbury Line
   Comment by The Newbury Line | 03/19/10 at 10:20 am

   You would expect a more accurate article from a publication such as the BBJ. We track 336 retail store fronts on Newbury Street, the Street is 94.7% leased at this point. Some buildings are offline for re-development/construction…this would include the building in the background of the BBJ photo. The building in the foreground of the photo is actually fully leased to a UK retailer who will be opening this fall. In the past six months, Ben Sherman, Ted Baker, All Saints, Diane Von Furstenburg, Hotel Chocolat, Cotelac, Converse, and Brooklyn Industries among others have either opened stores or are opening stores…funny how that is not mentioned in the article.

   BTW, $140-$150/sf rents justify paying $2,000/sf for a building, not $1,000…the sales price/sf for 286-288 Newbury is wrong by a multiple of 2, Charles Talanian doesn’t own more than 2 dozen buildings on the Street (more like 13-14)…but who cares about accuracy these days?

3. John Ford
   Comment by John Ford | 03/19/10 at 12:56 pm

   To The Newbury Line, I know you mght feel some of my past blog post now and in the past have been tough on Newbury Street retail leasing. With that said, I do care what is reported, at least on this blog. Please, anytime I write a blog post from the traditional “Boston media” that you know for a fact is incorrect – please let me know.

   Thanks – your comments are always welcome.

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