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Brokerage
Posted: January 23, 2014
Charter Realty & Development Corp. signs 21,400 s/f Michaels
Charter Realty & Development has signed a 21,400 s/f Michaels lease in the Torrington Fair located at 1880 East Main St. The Torrington Fair is anchored by Walmart, Price Chopper and Petco. Michaels will occupy the former Circuit City space. The deal was made by Dan Zelson of Charter's Westport office and Todd Lornell of Lornell Realty. The center is now 100% leased, but has the potential for an outparcel to be developed.
Michaels, a Texas-based retailer, carries a variety of arts and craft supplies, including paints, brushes, canvases, scrapbooking materials, beads, wedding supplies, yarns, floral items and more. The store also sells home décor, frames, seasonal merchandise and offers custom framing services. Michaels has more than 1,000 locations nationwide and in Canada.
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Hines of Horvath & Tremblay completes the sale of 200 multi-family units in Connecticut for $16.24 million
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.
Quick Hits
Columns and Thought Leadership
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.
