Avison Young represented landlord Transatlantic Investment Management, Inc.(Transatlantic) in a 3,454 s/f retail lease with Sleepy's, the Mattress Professionals, at 151 Merrimac St.
Avison Young principal Karyn McFarland represented Transatlantic and will continue to serve as the building's exclusive leasing representative. Peter Lyons of the Dartmouth Co. represented Sleepy's in the transaction. The retail location is slated to open this spring.
Norwich, CT Tim Hines of Horvath & Tremblay has facilitated the sale of 200 multi-family units totaling $16.24 million. Hines arranged the sale of an 83 unit multi-family portfolio in Cromwell, Middletown and Norwich, Conn. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $9 million.
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.
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.