Rent Control
Feb 1, 2006 12:00 PM
NAI Global's annual real estate report shows that retail rents in all sectors made huge jumps across the board. Downtown rents, for example, jumped more than 17 percent from 2004 while regional mall rents rose 9.5 percent. The study also ranked the priciest retail rents by market and category. West Coast markets, especially San Francisco and Santa Clara, sport some of the highest average rents in the nation.
| 2002 | 2003 | 2004 | 2005 | |
|---|---|---|---|---|
| Downtown Retail | $42.18 | $39.24 | $40.61 | $47.67 |
| Neighborhood Centers | 18.71 | 17.43 | 16.42 | 20.47 |
| Power Centers | 20.44 | 20.42 | 21.06 | 22.55 |
| Regional Malls | 41.34 | 40.12 | 39.25 | 43.01 |
| Source: NAI Global | ||||
| Highest Average Downtown Rents | Highest Average Neighborhood Center Rents | Highest Average Regional Mall Rents | |||
|---|---|---|---|---|---|
| San Francisco | $154.00 | Santa Clara, Calif. | 45.00 | Phoenix | 85.00 |
| Boston | 100.00 | Miami | 38.00 | Miami | 75.00 |
| Midtown Manhattan | 85.67 | Westchester, N.Y. | 35.00 | Santa Clara, Calif. | 73.00 |
| Chicago | 85.00 | Orange County, Calif. | 33.00 | Long Island, N.Y. | 70.00 |
| Palm Beach County, Fla. | 65.50 | Los Angeles | 30.00 | Tucson, Ariz. | 65.00 |
| Washington, D.C. | 52.00 | Washington, D.C. | 30.00 | Portland, Ore. | 62.00 |
| Suburban Maryland | 47.00 | Phoenix | 29.00 | Washington, D.C. | 62.00 |
| Santa Clara, Calif. | 45.00 | Northern Virginia | 28.00 | Middlesex/Somerset Counties, N.J. | 60.00 |
| Seattle/Puget Sound | 42.00 | Fort Collins, Colo. | 28.00 | ||
| Miami | 41.75 | Las Vegas. | $120.00 | ||
| San Francisco | $78.00 | San Francisco | 99.00 | ||
| Source: NAI Global | |||||
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