Comprehensive annual report includes ten-year grocery study
BURLINGTON, MA (today)—KeyPoint Partners, LLC has released The KeyPoint Report for Southern New Hampshire 2014, Bob Sheehan, Vice President of Research, announced today. This comprehensive retail real estate Report examines supply, occupancy, absorption, and retailer expansion and contraction for virtually every retail property in the region. This year’s Report features a special ten-year historical perspective on the region’s grocery real estate from 2004 to the present. (Click here to download report.)
“The region continued its upward trend in retail inventory, with a gain of 283,500 square feet, thanks in large part to the opening of Seabrook Commons, a new power center in Seabrook,” Sheehan said. “There was a sizeable increase in the vacancy rate from 9.6% a year ago to 10.7%, but this was mainly attributable to Stop & Shop’s closing six Southern New Hampshire stores, as well as the closing of two Shaw’s stores and one Building 19 location.”
According to the Report, total retail space for the region was nearly 30 million square feet. Walmart led retailers in square feet of expansion in the region, adding 98,700 square feet, while Party City, with its acquisition of iParty, ranked first in new store count, adding 4 units.
Sporting Goods topped all retail categories in new square footage, and Beauty Salons and Services was number one in new store count, with 11 locations added in the region. Department Stores and Banks and Savings Institutions also ranked high by expansion.
The special section of the Report compares the increase in square footage of grocery stores, dollar stores, and wholesales clubs in the region since 2004. Market Basket tops the grocery store chart, with over 900,000 square feet in the region.
The Report is based on KeyPoint Partners’ GRIID, a powerful source of retail market knowledge that maintains detailed information on virtually every retail property in key New England markets. The Southern New Hampshire Report includes 39 cities and towns, representing more than 835 square miles and approximately 554,000 people, or 42% of the state population.
The complete KeyPoint Report can be accessed here or at KeyPointPartners.com. The KeyPoint Report for Eastern Massachusetts/Greater Boston was released earlier this year, and the report for Greater Hartford, Connecticut will follow soon. For more information about KeyPoint Partners’ retail research capabilities and the KeyPoint GRIID contact Bob Sheehan, Vice President of Research, at BSheehan@KeyPointPartners.com or at 781.418.6248.
Headquartered in Burlington, MA, KeyPoint Partners is the region's premier commercial real estate service firm, providing a wide range of services to retailers, property owners, and financial institutions on more than 27 million square feet of retail, office, and industrial properties in 17 states.
Bob Sheehan, VP of Research:
Mr. Sheehan has over 36 years of experience providing retail and market analysis to clients nationwide. Prior to establishing his own consulting practice, mainstreetResearch, in 2001, Mr. Sheehan spent 13 years as Director of Market Research for The Richard E. Jacobs Group. Mr. Sheehan directed all research activities including market feasibility and site evaluation, redevelopment and expansion analysis, economic impact studies, competitive assessment, and related market intelligence for the company's portfolio of 39 shopping centers in 14 states. Mr. Sheehan has also worked as Manager of Location Research for Bradlees Department Stores, and as a Senior Analyst for Federated Department Stores. Mr. Sheehan has a B.A. in Economics from Holy Cross College, and an MBA in Marketing from the University of Miami. He is a member of the ICSC and a longstanding member of the ICSC Research Advisory Task Force.