Yeah, that could all be the case.
I see the former "London Towne" space just south of the former Irish Linen Stores space has a posted lease rate of $65 for 2,275 sq. ft., plus $18.77 in op costs. So $12,322/month in base lease.
The Carreiro space on Broad Street near View Street has a base lease of $18, plus $15.77 in op costs, for 3,220 sq. ft., or $4,830 in base rent for a much larger space. $18/foot strikes me as very, very low, though. Maybe lease rates are up at strategic locations, but $18/foot for a nice space, street-side, is good.