Hoboken Retail Real Estate

8/13/2009:

How bad is retail Real Estate?

Like I mentioned in a recent post about shopping local – I believed that even though the national economy is suffering pretty bad in many areas – Hoboken is probably a bit better off (so far.)

uptown commerce center stock hoboken nj still vacant - Hoboken Retail Real Estate

But you still have a commerce center uptown (right near the flooding from this morning’s water main break), empty shops along Washington Street, and Maxwell Place, which is has ever-so-slowly reached a supposed “75% Commit Rate” (including a PNC Bank!)

Hoboken411 reader YipYap mentioned this story in the NY Times, quoting: “But the retail market turned rotten, awful, godforsaken” -Benjamin D. Jogodnik, an executive with Toll Brothers’ City Living division”

The Times piece is positioned as “some sign-ups despite downturn,” but what does that really mean? Is it a “fluff piece” to nudge others into joining them? Or just a way to make really bad news seem not so bad?….

What will it take for the retail economy to recover?

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homeworld
homeworld
Thursday, August 13, 2009 1:24 pm

There’s 4.5 million square feet of empty retail, commercial and entertainment space 5 miles from Hoboken.

http://en.wikipedia.org/wiki/Meadowlands_Xanadu

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