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Market Report

Boston Retail Market Report

2Q 2021

Nationally Low Vacancy Provides Strong Platform From Which Vaccines, Stimulus Can Aid Retailers

Anticipated retail sales boost to assist property performance. As with the country more broadly, Boston retailers struggled in 2020 because of the health crisis. Store closures led to a negative absorption of space for the first time in over a decade. Even so, the metro’s vacancy rate entered 2021 below that of almost every other major U.S. market. Grants from the Restaurant Revitalization Fund and a second round of Paycheck Protection Program loans should help support restaurants and other stores until restrictions are rescinded. Massachusetts opened vaccinations to all adults on April 19, which combined with warming weather and direct stimulus checks should pave the way for stronger in-person consumer spending at retailers in the months ahead.
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