Grove Hall Grove Hall Development ProjectDevelopment Project

Commercial Market AnalysisCommercial Market Analysis

By: By: Greg HumesGreg Humes

Matt HoltMatt Holt

Eric JohnsonEric Johnson

Grove Hall ProjectGrove Hall ProjectBoston Main Streets – Office Lease TrendsBoston Main Streets – Office Lease Trends

DistrictDistrict Feb. ’00Feb. ’00 Feb. ‘01Feb. ‘01 Feb. ‘02Feb. ‘02

Brighton $16 $15 - $20 $15 - $25

Dudley Sq. N.A $25 - $32 $15 - $35

East Boston $9 - $13 $10 - $15 $12 - $15

Grove Hall $7 - $12 $22 $22

S. Boston N.A. $15 - $18 $17 - $25

City of Boston – Dept. of Neighborhood Development

Grove Hall ProjectGrove Hall Project

Banker & Tradesman

Grove Hall ProjectGrove Hall Project

Banker & Tradesman

Grove Hall ProjectGrove Hall ProjectBoston Main Streets – Retail Lease TrendsBoston Main Streets – Retail Lease Trends

DistrictDistrict Feb. ’00Feb. ’00 Feb. ‘01Feb. ‘01 Feb. ‘02Feb. ‘02

Brighton $8 - $17 $20 - $25 $28 - $38

Dudley Sq. $15 - $25 $16.75 - $25 $18 - $28

East Boston $15 - $25 $20 - $25 $21 - $25

Grove Hall $9 - $16 $20 - $24 $15 - $25

S. Boston N.A. $18 - $37 $22 - $38

City of Boston – Dept. of Neighborhood Development

Grove Hall Project Grove Hall Project Retail MarketplaceRetail Marketplace

Area is dominated by local business ownersGrove Hall Gateway established large chain

businesses -CVS, Hollywood VideoNew building should attract both local

stores(upgrade) and larger chains

Grove Hall Project Grove Hall Project Retail SpaceRetail Space

Pre-constructionPre-construction

Daycare - 10,000 SF of storefront space facing Blue Hill Avenue

Post Office - 6,000 SF One or two hair salonsApartment rental/management

Grove Hall ProjectGrove Hall Project

Commercial– 2nd Floor to be constructed for residential

conversion for future office space

Retail Rates– priced at $15 SF– Future growth rate 3%