Avison Young, the world's fastest-growing commercial real estate services firm, completed a 10,000 s/f long-term lease at Cambridge Hanover's 100 Trap Falls Rd. with Option Care Enterprises, Inc., a subsidiary of Walgreens.
Sean Cahill, Avison Young principal and managing director of the firm's Fairfield/Westchester office, represented Cambridge Hanover in the transaction, while Christina Blair of CBRE represented the tenant.
Cambridge Hanover purchased the 81,526 s/f property in July 2013, and has completed major capital improvements to convert the building from a single-tenant industrial property to a modern, multi-tenant flex building. The capital improvements have also included significant upgrades to the property and tenant spaces.
The property provides access to Rte. 8 by nearby Exits 11 and 12.
Melrose, MA Dennis Kelleher and John Pentore of Horvath & Tremblay have facilitated the sale of 47 units spread across two multi-family properties in totaling $13.7 million. Kelleher and Pentore facilitated the sale of 333 Main St. and 447 Pleasant St.
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.
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.