Bonica and Hotarek of Eastern Retail Properties broker $5.4 million sale
Andrew Bonica and Michael Hotarek of Eastern Retail Properties, Inc. have sold the 64,612 s/f former Shaw's Supermarket at 1493 Hartford Ave, for $5.4 million.
The seller, Shaw's Supermarkets, Inc., a subsidiary of SuperValu, was exclusively represented by Eastern.
Eastern also retained the buyer, Ocean State Job Lot, who plans on opening a new location within the former supermarket later this year.
Wallingford, CT O,R&L Commercial has completed the $3.8 million sale of a mixed-use investment property located at 33-39 North Main St. and 24-25 Wallace Ave. in the town center.
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.