Big Lots holds grand opening for 31,000 s/f store in Revere
Big Lots is holding a grand opening for its new a 31,000 s/f store at Wonderland Marketplace, according to Robert Lemons, managing partner of KeyPoint Partners, which manages and leases Wonderland. Vice president of leasing Don Mace negotiated the lease with Big Lots in May of 2014.
The grand opening was held on March 6, and included a ribbon-cutting by Big Lots representatives and distinguished guests from the city. Big Lots is opening in 31,000 s/f of the former Stop & Shop space at the center.
The remaining 33,599 s/f of the space is available for lease, and is sub-dividable. Additional vacancies at the center include a 3,909 s/f in-line unit, and a 4,800 s/f end-cap. Wonderland Marketplace is a 135,000 s/f shopping center, anchored by the new Big Lots, Marshalls, and Staples and featuring Hair Cuttery, Ninety-Nine restaurant, and the U.S. Post Office.
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.
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.