North Reading Has High Rate of Retail Vacancy

While the retail industry is beginning to bounce back across Massachusetts, that isn't necessarily the case in North Reading according to a recent report.

Boston Business Journal reported that KeyPoint Partners in Burlington compiled numbers that show the growth of retail since the economic downturn began several years ago.

The numbers show that while Boston and Cambridge are the top retail centers in the state, North Reading has the highest retail-vacancy rate among towns with a minimum of 500,000 square feet of retail space, according to the article.

North Reading's rate is just higher than Belmont at 18.6 percent and Malden, which comes in at 15.8 percent, the Boston Business Journal reported.

In total, the article reports that there were 46,000 retail establishments in Massachusetts as of May 31, with 5,400 total that were vacant. Boston Business Journal reported that those numbers represent an 11.5 percent decline from the 6,100 vacancies one year prior.

Click here to read the Boston Business Journal report in its entirety.