Jim Speros has joined Boston Realty Advisors as the Director of Retail Real Estate, where he will lead the strategic growth of Boston Realty Advisors’ retail group, Advisors Retail.

Jim specializes in retail property leasing, retail tenant representation, shopping center development, tenant mix repositioning, property acquisitions, property sales, and site assemblage throughout New England.

A Boston-area native and an expert in both the Greater Boston and Rhode Island markets, Jim has facilitated countless retail real estate transactions with prominent developers, landlords and national and local retail tenants.

Jim began his real estate career in 1993, and has been involved in marketing and selling since 1988.

Jim is an active member of ICSC. He earned his Bachelor of Science in Journalism and Advertising from Northeastern University and is a licensed real estate agent in both Massachusetts and Rhode Island.

Avanti Salon of Newbury Street Boston is opening its second location at The Macallen Building in the South Boston Neighborhood, also known as “The Downtown West Broadway Submarket.”

The Macallen Building is the only building in the City of Boston to achieve the Gold-level LEED certification badge. Even with the decline in the economy, the neighborhood is experiencing a renaissance, as approximately 800 units of housing have been created over the last four years, and Gillette is moving its Boston Headquarters across the street from the location.

Jim Speros, Director of Retail Real Estate and Jason S. Weissman, Principal, both of Boston Realty Advisors represented the ownership, Macallen Properties LLC. The tenant was represented in-house.

Retail rents in Manhattan have decreased overall in the past year. As indicated in the above table, all major New York City retail submarkets have experienced a decrease in rent with the exception of Times Square. These rent decreases have actually allowing existing retailers to enter into markets they previously could not afford.

Commercial retail investment sales year-over-year price growth remains to be seen as transactions continue to close. Thus far, however, average retail property investment sales prices have fallen approximately 56% as of 2Q 2009, as indicated in the graph.