Space is a big concern in New England. Because of the lack of it, Newbury Street in Boston is able to command rents from $70 a square foot to more than $150 a square foot, putting it on the level of Rodeo Drive in Beverly Hills. Stanley Sidel, senior vice president with Legg Mason Real Estate Services, says his firm recently negotiated a $12 million mortgage for The Gap and its offshoots on a 25,000-square-foot space, which works out to be $480 per square foot.

In the 'burbs, average rent for nonanchored tenants is on average $18 to $22, triple net. Sidel says rents are similar in Nashua and Manchester, N.H., Portland, Me., Providence, R.I. and Burlington, Vt.

MAINE

  • Population 2002: 1.294 million
  • Median Household Income: $36,612.0 (-1.8% YOY)
  • Median Home Price: $188,000 (+9.3% YOY)
  • Boston Regional Mall Vacancy Rate: 5%
  • Boston Power Center Vacancy Rate: 4%
  • Boston Neighborhood Center Vacancy Rate: 6%

MASSACHUSETTS

  • Population 2002: 6.427 million
  • Median Household Income: $52,253 (+11.8% YOY)
  • Median Home Price: $397,000 (+11.5% YOY)
  • Boston Regional Mall Vacancy Rate: 7%
  • Boston Power Center Vacancy Rate: 8%
  • Boston Neighborhood Center Vacancy Rate: 8%

NEW HAMPSHIRE

  • Population 2002: 1.275 million
  • Median Household Income: $ 51,331.0 (+0.8% YOY)
  • Median Home Price: $264,000 (+6.7% YOY)
  • Manchester Regional Mall Vacancy Rate: 8%
  • Manchester Power Center Vacancy Rate: 8%
  • Manchester Neighborhood Center Vacancy Rate: 10%

VERMONT

  • Population 2002: 616,600
  • Median Household Income: $40,794.0 (+3% YOY)
  • Median Home Price: $213,000 (+10.6% YOY)
  • Burlington Regional Mall Vacancy Rate: 12%
  • Burlington Power Center Vacancy Rate: 8%
  • Burlington Neighborhood Center Vacancy Rate: 7.5%

RHODE ISLAND

  • Population 2002: 1.069 million
  • Median Household Income: $45,723.0 (+8.4% YOY)
  • Median Home Price: $220,000 (+22% YOY)
  • Providence Average Mall Rent Per Sq. Ft: $47
  • Providence Average Power Center Rent Per Sq. Ft: $18
  • Providence Average Neighborhood Center Rent Per Sq. Ft: $14

Source: U.S. Census Bureau and NAI