Bierbrier Development renews two leases totaling 8,690 s/f in Medford
Bierbrier Development, a developer of urban shopping centers in Eastern Mass., signed two lease renewals totaling 8,690 s/f at Wellington Circle Plaza.
In the larger of the two transactions, longtime tenant Men's Wearhouse renewed its 5,483 s/f store lease at Wellington Circle Plaza. Based in Houston,Men's Wearhouse is a men's dress apparel retailer. The publicly traded company has nearly 1,000 store locations nationwide and has had a store at its current site in Medford since 1996.
Twilight Tanning, operator of Beach Bum Tanning, also renewed its lease at Wellington Circle Plaza. The long-term lease renewal is for 3,207 s/f. Beach Bum Tanning has been located at Wellington Circle Plaza for 10 years.
"We are very pleased to continue our longstanding business relationships with Men's Wearhouse and Beach Bum Tanning," said Len Bierbrier, president and owner of Bierbrier Development.
Little Compton, RI Mott & Chace Sotheby’s International Realty sold 17 Ferolbink Way, for $4.5 million. The sellers were represented by Cherry Arnold, sales associate of Mott & Chace
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.