By Jordan ErbSource: Bloomberg Delinquency rates on loans ranging from mortgages to credit cards rose to 4.8% of all outstanding US household debt in the fourth quarter, the highest level since 2017, driven by rising defaults among low-income and young borrowers. While the overall share of loans in some stage of default is near pre-pandemic averages, the rise […]
Gary Higgins A stretch of Dudley Street in Dorchester’s Uphams Corner is among the areas that will see new opportunities for restaurants to serve alcohol. Dorchester is set to receive seven of the 21 new liquor licenses recently approved by the Boston Licensing Board as part of the city’s effort to expand alcohol service in […]
By Greg Ryan CBRE Group Inc.’s investment arm has sold a shopping plaza in Cambridge’s Porter Square to two local firms for $20.1 million. Crosspoint Associates and Long Wharf Capital now own Porter Square Galleria, a 55,610-square-foot property anchored by a Target Corp. store. The plaza is 96% leased, with Retro Fitness, Citizens Bank and Anna’s Taqueria among its other […]
By Mitchell Parton As retailers push into new cities and brands lean hard into brick-and-mortar as a strategy, it has become incredibly difficult to find space for a new storefront. Financing constraints due to elevated interest rates as well as zoning and infrastructure restrictions in some jurisdictions have limited construction of retail developments, limiting the amount of space on the […]
By Grant Welker The Street shopping center in Chestnut Hill will open a 90,000 square-foot addition on Thursday with what’ll eventually be more than 25 retailers. Among the brands are the newly announced jewelry store Mejuri and the clothing retailer Todd Snyder. They’ll join previously named tenants opening Thursday that includes the activewear companies Alo Yoga […]
By Ben Casselman The U.S. economy remained resilient early this year, with a strong job market fueling robust consumer spending. The trouble is that inflation was resilient, too. Gross domestic product, adjusted for inflation, increased at a 1.6 percent annual rate in the first three months of the year, the Commerce Department said on Thursday. That was […]
By Eliza Ronalds-Hannon, Janine Phakdeetham, and Claire Boston Express Inc., the clothing retailer that’s a staple in US malls, filed for bankruptcy with plans to sell itself. The company received an offer from brand manager WHP Global and mall landlords Simon Property Group Inc. and Brookfield Properties to purchase the company’s operations and most of its stores, according to a statement on Monday. […]
By Grant Welker Somerville’s Assembly Row will soon welcome a second location of Davis Square favorite Posto, a new concept from the group behind Papagayo and Civility Social House, and a fifth location of Amelia’s Taqueria. Posto will open a nearly 6,000-square-foot space with a full-service dining room, cafe and take-out market at the recently closed FRANK in […]
By Aaron Pressman Amazon unveiled its largest facility in Massachusetts on Monday, a staggering five-story warehouse in North Andover with almost 4 million square feet of space to hold everything from books and DVDs to cans of soup. The fulfillment center on the site of a former telephone company factory cost about $400 million to […]
By Edward F. Pierzak Retail REITs own and manage retail real estate and rent space in those properties to tenants. Properties can include large regional malls, outlet centers, grocery-anchored shopping centers, and power centers that feature big box retailers. Despite the considerable gains in e-commerce sales and its expected strong growth, retailers have increasingly appreciated […]
