CBRE/Grossman Retail Advisors secures 38,000 s/f Nordstrom Rack

Seattle-based Nordstrom, Inc., plans to open a new Nordstrom Rack at The Newbry in Boston's Back Bay neighborhood, further expanding its presence in the Boston market to four full-line stores and four Nordstrom Racks. The approximately 38,000 s/f, two-level store is scheduled to open spring 2013. Nordstrom Rack is the off-price retail division of Nordstrom, Inc., carrying on-trend merchandise from Nordstrom stores and Nordstrom.com at 50 to 60% off original Nordstrom prices. Nordstrom Rack also offers a wide selection of apparel, accessories and shoes from many of the brands carried in Nordstrom stores. These items are purchased specially for Nordstrom Rack, with most at savings of 30 to 70% off. The Newbry is owned by TIAA-CREF and managed by CBRE/New England Partners, LP.

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O,R&L Commercial facilitates $3.8m sale of 29,879 s/f mixed-use property

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.

Atlantic Capital Partners sells shopping center in Milford for $8m

Horvath & Tremblay completes sale of Walgreens store for $4.9m

Commercial Realty Advisors represents buyer in $1.9m acquisition

Prescott IOS and the Stubblebine Company complete 30,500 s/f on three acres of IOS in a build-to-suit lease at 3 Belcher St., Plainville, MA

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MANSARD closes $5.356 million sale of Woburn industrial building, demonstrating continued demand for Greater Boston industrial real estate

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The rise of AI in CRE - And what it means for every skilled profession - A broker & appraiser weighs in - by Bryan Plourde

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.

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.