Brixmor signs new tenants to five former Borders locations
According to Brixmor, four national tenants, Books-AMillion, Big Lots, Dick's Sporting Goods, and REI, will occupy former Borders locations in California, Colorado, Connecticut, Michigan, and North Carolina.
"The departure of Borders opened the door for a number of our existing retailers to open more stores within the Brixmor portfolio. Additionally, we are pleased that Brixmor's first lease has been signed with outdoor specialist retailer REI which is taking a 27,000 s/f former Borders location in Cary, N.C. The breadth and depth of the Brixmor portfolio of shopping centers continues to enable us to work with our retailers in finding them the right locations for their current prototype and expansion plans," said Timothy Bruce, executive vice president, leasing and redevelopment, Brixmor Property Group.
Melrose, MA Dennis Kelleher and John Pentore of Horvath & Tremblay have facilitated the sale of 47 units spread across two multi-family properties in totaling $13.7 million. Kelleher and Pentore facilitated the sale of 333 Main St. and 447 Pleasant St.
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.