As we look to serve the needs of property owners and investors in the mid-market segment in the regional submarkets across the Northeast, we’re particularly excited to have a growing presence in the Boston market. Frankly, we believe it’s a great time to be in the Boston area because that commercial real estate market is one of the brightest spots in the entire country. This is according to a recent report by Moody’s Investors Service, which tracked commercial real estate prices in major markets across the U.S. during the 12-month period that ended September 30.
With a grocery-anchored shopping center recently sold and a new center just listed for sale, we’re starting to see renewed interest and activity in multi-tenant retail assets. As consumer spending starts to firm up, mid-market investors that are patient and willing to adapt to market realities can be expected to come out ahead in this sector as we look to 2013 and beyond. Simply put, with rent growth back on the agenda, the retail sector is expected to offer increased returns as other leased investments continue to lag.