CBRE/New England Capital Markets completed the sale of 756 Lafayette Rd., an 11,356 s/f single-tenant Dollar Tree for $2.85 million.
The Dollar Tree is located directly adjacent to Seabrook Commons, a new power center anchored by Walmart, which provides an enormous draw to the immediate area.
CBRE/New England exclusively represented the seller and procured the buyer, an affiliated company of Avise Properties, in the transaction.
"Avise Properties has acquired a prime asset in a proven retail location," said CBRE/New England's Nat Heald.
Norwich, CT Tim Hines of Horvath & Tremblay has facilitated the sale of 200 multi-family units totaling $16.24 million. Hines arranged the sale of an 83 unit multi-family portfolio in Cromwell, Middletown and Norwich, Conn. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $9 million.
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.