KeyPoint: economic growth returns to Eastern Mass.
Burlington, Mass. — KeyPoint Partners has released The KeyPoint Report for Eastern Massachusetts/Greater Boston 2013. The report examines supply, occupancy, absorption and retailer expansion and contraction for virtually every retail property in the region. The 2013 report also includes a ten-year historical perspective that discusses the regional retail economy before, during and since the recession.
“This was a recovery year,” Sheehan says. “This study saw the largest vacancy rate drop in more than a decade; the second strongest absorption rate since 2005; fewer large format chain closing; and moderately healthy expansion by retailers.”
Restaurants topped the rankings in new square footage and store count growth. Food stores/grocery ranked second and health and fitness ranked third.
Click here for the report.
RadioShack opens next generation store in Manhattan
New York — RadioShack Corporation has opened the first of the next generation of stores scheduled to roll out across the country and around the world over the next several months.
RadioShack plans to open a variety of store configuration prototypes in the New York metropolitan area and in New Jersey and Texas. Each store will feature configurations customized to local buying patterns and neighborhood needs. Key lessons from the newly configured stores will provide the foundation for future retrofits and remodeling of many of RadioShack’s 4,300 stores in the United States.
New general manager for Somerville, Mass., Assembly Row
Rockville, Md. — Federal Realty Investment Trust has announced that Russ Joyner has joined the company as VP-general manager of Assembly Row. Joyner’s responsibilities will include management and operations at the mixed-use development project in Somerville, Mass. Currently under construction, Assembly Row will open in mid-2014.
With 26 years of retail real estate management and operations experience, Joyner comes to Federal Realty from Miracle Mile Shops in Las Vegas where he served as President and General Manager. He has also served as VP and General Manager at Fashion Show Mall in Las Vegas and Hollywood & Highland, home to the Academy Awards.