News:
Brokerage
Posted: September 29, 2023
Arnold Peck’s Commercial World sells Hitchcock Plaza - 11,000 s/f leased
Orange, CT Hitchcock Plaza, formerly known as Loehmann’s Plaza, a landmark shopping center at 185 Boston Post Rd. has been sold for an undisclosed amount by Arnold Peck of his brokerage Arnold Peck’s Commercial World. The property had been listed by Peck for the listed price of $8 million and for the last few years had been marketed for sale and the vacancies marketed for lease. This was accomplished during the challenging years of commerce brought about by COVID.
Charm’s Security Hardware moved from West Haven to the 4,200 s/f space as an anchor store. Danz Magic of Milford, a dance school, relocated to the plaza using a 2,400 s/f space. The newest soon-to-arrive using 4,400 s/f will be KidStrong a company geared to helping parents raise confident children, ready for what life brings them.
Peck located the buyers from Boston, MA and they will in the next three years reposition the property, creating the shopping experience of the 21st century. The negotiations were complex, with 75% of the owners in Canada, and the remaining 25% here in the United States.
MORE FROM Brokerage
RapDev leases 17,587 s/f at 501 Boylston St. - lease brokered by JLL
Boston, MA RapDev, a leading software-engineering and DevOps consultancy, has leased 17,587 s/f at 501 Boylston St. in the city’s Back Bay. The company moved into the new space this summer, consolidating operations onto a single floor to accommodate growth and create a workplace that reflects its collaborative culture.
.png)
Columns and Thought Leadership
Retail / tariffs / uncertainty and (still) opportunity - Carol Todreas
As new tariffs continue to impact the global economy, retail businesses and investors are grappling with heightened uncertainty. From new high tariffs to supply chain issues to evolving consumer behaviors, continual changes are making it as or more challenging than the pandemic years. Yet, amidst this turbulence,
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.
Placemaking and retail in 2024 - by Carol Todreas
Placemaking. That is the word for 2024. While the concept has historical precedence in urban development, it became part of our current culture in the 1960’s when urbanists started to think about cities for people, not just cars.
Newbury Street: Boston’s timeless retail gem thrives in a modern era - by Joseph Aquino
Boston’s iconic Newbury St. continues to thrive as one of the most vibrant and compelling retail corridors in the United States. Nestled in the heart of the Back Bay, this historic St. has evolved into a powerhouse of high-St. retail, where luxury meets lifestyle and legacy brands coexist with up-and-coming names. With its European charm, diverse architecture, and unmatched foot traffic, Newbury St. remains a dynamic reflection of Boston’s energy, culture, and economic strength.
