Colvest Group purchases 1.1 acre site for $850,000
The Colvest Group, Ltd. has recently purchased 71 & 79 Linwood Ave. The site, totaling 1.1 acres, located in front of the town's Super Sto and includes two buildings containing over 6,000 s/f of retail, office and apartments.
The sellers, Harold and Judy Thompson represented by attorney Anthony DeCrosta of Glastonbury, are positioning themselves for retirement. The purchaser, represented by attorneys Steve Krevalin and Gail Shaulys of Glastonbury, has no immediate plans for the site.
Jeff Kirby, agent with Lyman R.E., was the sole agent involved in the $850,000 transaction.
strong>Lynn, MA Stephen Girolamo, Dennis Kelleher, and John Pentore of Horvath & Tremblay completed the sale of a 36-unit multifamily property at 12-16 Border St. for $8.367 million, equivalent to $232,417 per unit.
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.
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.