CB Richard Ellis brokers 11 transactions at Wilton River Park
Wilton River Park completed eleven office and retail transactions totaling 55,250 s/f year-to-date at the newly rebranded Wilton River Park. Over the past year, Wilton River Park has evolved into a work/play/shop environment that encompasses the offices and retail space at 5, 11, 15, and 21 River Rd. and includes more than 150,000 s/f of office space and 100,000 s/f of retail space. In total, WRP offers 20 acres of a prime working and shopping environment all situated in a park-like setting. Its varied and comprehensive on-site amenities make working and shopping at Wilton River Park a complete experience.
CB Richard Ellis' Tom Pajolek, senior vice president, and Barbara Segalini-Stilley, vice president, represented three office transactions totaling 45,200 s/f on behalf of Wilton River Park. These transactions included Toluna, Inc.'s 21,400 s/f space at 21 River Rd.; the lease of Blue Buffalo Company's16,900 s/f headquarters at 11 River Rd.; and Alterna Capital Partner's new 6,900 s/f office at 15 River Rd.
Wilton River Park's eight retail transactions totaled 10,134 s/f. These transactions included Halstead Property's 2,400 s/f renewal next to The Gap; renewal of Starbuck's 1,886 s/f at 21 River Rd.; Fairfield Stationer's new 1,322 s/f shop. 5 River Rd. has seen an abundance of activity thanks to Campus Jeweler's 955 s/f retail expansion; Sweet Pierre's Boutique du Chocolat's new 450 s/f; The Athlete's Foot's 1,400 s/f commitment; Toppings Frozen Yogurt's new 800 s/f shop; and Verizon's new 921 s/f next to Mediterranean Grill.
West Roxbury, MA Prescott IOS has arranged an industrial outdoor storage lease for Eastern Bus Company at 151 Rivermoor St. David Skinner and Devon Wagner of Prescott IOS represented the tenant, while Caroline Munn nd Rob Byrne of CBRE represented the landlord, Feeney Brothers Real Estate. The 40,000 front foot site gives the bus operator secured yard space close to the routes it serves across Boston and the inner suburbs.
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.