| UrbanMeritage principal Mike Jammen says retail on Newbury Street never looked better—that's as the vacancy rate approaches a record low 3%. |
| Recent move-ins like Forever 21 and Jack Wills are doing well, so others are signing leases before rents pop. UrbanMeritage is doing its part—brokers in the UK and elsewhere are marketing the boutique shopping strip. In late May, the Newbury Line closed its latest purchase, the 8,200 SF 328 Newbury St for $6.15M or $750/SF. It's the 28th building the firm has purchased in the past four years, making the Newbury Line a leading landlord on a retail street with global cache. All told, UrbanMeritage has invested $300M in acquisitions and development since its founding in ?06. Do you dig more specifics from Mike, or just want to see him in person? He's a panelist at Bisnow?s Retail Summit, June 30 at the Hyatt Regency. To join us, click here. |
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