News: Brokerage

Coastal Partners completes 84,000 s/f $20m BJ's Wholesale Club project

Coastal Partners has completed its most recent project, the BJ's Wholesale Club at 200 Crown Colony Rd. The 84,000 s/f club is the first mid size prototype for the BJ's Wholesale Club in New England which typically averages 120,000 s/f. Rather than design the traditional BJs façade Coastal offered upgraded façade design elements to blend into the Crown Colony Office Park including brick, pilasters, crown molding, and softer colors and textures. "Coastal is very proud to bring BJ's Wholesale Club to the city of Quincy," said Michael DiGuiseppe, managing partner of Coastal Partners LLC. "We believe that this project is an exceptional asset to BJs, the city, and community. Prior to construction the property was a vacant 40,000 s/f industrial printing facility which had contaminated soils, asbestos, and failed storm water management systems. Now, the property has been remediated with a new state of art storm water management system and a vibrant retail environment exists with BJ's." The project provided 300 union construction jobs, and brings approximately 250 full and part time jobs to the community. The development represents a $20 million investment in the city of Quincy. The official groundbreaking, including the mayor, all city council members, state senators Mariano and Morrissey was held in September 2009 with the grand opening taking place on May 1, 2010. All attendees praised Coastal for its ability to create jobs, increase tax revenue and bring a quality tenant such as BJ's to the city. Coastal Partners' development team included Construction Management & Builders Inc. of Lynnfield,; RJ O'Connell & Associates Inc. of Stoneham; Ci Design of Boston; and Vanasse & Associates Inc. of Andover. The Quincy Club joins 20 other BJ's Clubs throughout the state.
MORE FROM Brokerage

Goldberg of Spire Investments purchases Beverly portfolio for $9.2m

Beverly, MA Jay Goldberg, president and owner of Spire Investments has completed the purchase of four multifamily buildings. The 33-unit purchase amounted to a sale price of $9.2 million or $278,788 per unit. The properties are all located in downtown and consist of one- and two-bedroom units.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
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

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

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.