Bowden of R. Calabrese Agency completes 2 leases totaling 23,400 s/f
Bob Bowden of the R. Calabrese Agency has leased a retail storefront to Edible Arrangements at Playhouse Corner. The new Edible Arrangements store, the first in the Southbury area market, is located at 77 Main St. South just off Exit 15 of I-84. The 1,400 s/f location will offer their trademark fruit arrangements that has made this franchise a household name. The R. Calabrese Agency represented both the tenant and the landlord in this transaction.
Bowden also completed the expansion relocation of ITD Corporation of Prospect, CT to their new assembly/warehouse space leased in the Naugatuck Industrial Park. ITD, the USA division of it's German parent corporation, had outgrown it's current space due to the rapid growth of their medical cart business and requiring a facility twice the size of their current space.
Their new location at 50 Rado Dr. consists of 22,000 s/f of flexible industrial space. This is the third expansion of ITD handled by the Calabrese Agency. Bowden represented the tenant, ITD USA Corporation, and Timothy D'Addabbo of Cushman & Wakefield represented the landlord in this transaction.
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.