News:
Brokerage
Posted: July 28, 2017
Bailey of Commercial Realty Advisors completes two sales totaling $1.825 million
Commercial Realty Advisors
Sandwich, MA Commercial Realty Advisors, Inc., has completed the following sales, as a downleg of a 1031 exchange. Christopher Bailey, CCIM, vice president has handled both sides of both transactions while consulting with Eamon Moran of Aubuchon Realty Company.
The Cotuit Rd., 6-acre commercial subdivision was divided into 3 lots. The first lot at 311 Cotuit Rd. sold to Bryan Anderson, owner of Andy’s Market in Mashpee and Teaticket Market in Falmouth, for $800,000. Anderson intends to open a convenience and package store at this location. The new larger Aubuchon Hardware store now occupies the back lot. There is still one remaining lot with frontage and its own curb cut on Cotuit Rd. available for sale.
Bailey also has sold 2 Cocasset St. in Foxboro, Mass. This was formerly an Aubuchon Hardware store. The sale price was $1.025 million. The buyer was O’Reilly Autoparts and they intend to open a new store in the building.
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
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.
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.