News:
Brokerage
Posted: November 29, 2024
Business Exchange and Ellis Realty arrange sale of 12,500 s/f Haddads Ocean Cafe restaurant
Marshfield, MA Adam Bauer, principal of The Business Exchange and David Ellis, managing director of Ellis Realty Advisors exclusively arranged the sale of Haddad’s Ocean Cafe located at 291-293 Ocean St., on behalf of ownership Haddad Realty Trust, LLC & Ocean Café, Inc. The respective brokers collaborated to also procure the buyer Table Nine Hospitality Group.
The 12,500 s/f free-standing waterview restaurant in the Brant Rock area was constructed in 2012. The Haddad family has been in the local business community and staple operating in Brant Rock since 1937. The real estate sale closed at $3.1 million and an undisclosed amount for the operating business.
Attorney Timothy Houten of Houten Law represented the seller and Louis Dakoyannis of DS Law the buyer. Financing for the sale was arranged by Michael DiNapoli of Eastern Bank in collaboration with BDC New England.
The new operators will continue the legacy of Haddad’s paying homage to the many years the family built the business as an integral part of the local landscape and community.
MORE FROM Brokerage
RapDev leases 17,587 s/f at 501 Boylston St. - lease brokered by JLL
Boston, MA RapDev, a leading software-engineering and DevOps consultancy, has leased 17,587 s/f at 501 Boylston St. in the city’s Back Bay. The company moved into the new space this summer, consolidating operations onto a single floor to accommodate growth and create a workplace that reflects its collaborative culture.
Quick Hits
.png)
Columns and Thought Leadership
Placemaking and retail in 2024 - by Carol Todreas
Placemaking. That is the word for 2024. While the concept has historical precedence in urban development, it became part of our current culture in the 1960’s when urbanists started to think about cities for people, not just cars.
Retail / tariffs / uncertainty and (still) opportunity - Carol Todreas
As new tariffs continue to impact the global economy, retail businesses and investors are grappling with heightened uncertainty. From new high tariffs to supply chain issues to evolving consumer behaviors, continual changes are making it as or more challenging than the pandemic years. Yet, amidst this turbulence,
End of the year retail thoughts - by Carol Todreas
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.
Newbury Street: Boston’s timeless retail gem thrives in a modern era - by Joseph Aquino
Boston’s iconic Newbury St. continues to thrive as one of the most vibrant and compelling retail corridors in the United States. Nestled in the heart of the Back Bay, this historic St. has evolved into a powerhouse of high-St. retail, where luxury meets lifestyle and legacy brands coexist with up-and-coming names. With its European charm, diverse architecture, and unmatched foot traffic, Newbury St. remains a dynamic reflection of Boston’s energy, culture, and economic strength.
