News:
Brokerage
Posted: January 23, 2014
Angel Commercial sells 18,311 s/f for $1.65 million at 386 Commerce Drive
Angel Commercial L.L.C., a Southport-based commercial real estate brokerage firm, completed the sale of an 18,311 s/f industrial building on 1.23 acres located at 386 Commerce Dr. for a planned Hyundai dealership for $1.65 million, according to Jon Angel, president.
David Cartwright, dealer principal said, "Given the low interest rate environment, it made sense to acquire a property versus leasing long term. The Hyundai brand has been well received in Fairfield and we are committed to servicing this market going forward."
Hyundai Fairfield opened on Post Rd. in 2011. This car brand has been one of the fastest growing within the automotive industry in recent years.
MORE FROM Brokerage
Goldberg of Spire Investments purchases Beverly portfolio for $9.2m
Beverly, MA Jay Goldberg, president and owner of Spire Investments has completed the purchase of four multifamily buildings. The 33-unit purchase amounted to a sale price of $9.2 million or $278,788 per unit. The properties are all located in downtown and consist of one- and two-bedroom units.
Quick Hits
Columns and Thought Leadership
The rise of AI in CRE - And what it means for every skilled profession - A broker & appraiser weighs in - by Bryan Plourde
This may seem self-serving, and I’ll be the first to admit it. But unlike some of the artificial intelligence tools now reshaping our industry, I am fully aware of my own bias. So, hear me out. The rise of AI in commercial real estate is not a distant threat or a speculative headline.
End of the year retail thoughts - by Carol Todreas
Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.