The New London office of Connecticut Commercial Realty & Select Homes has signed a five year lease with a five year renewal option for 2,355 s/f at Great Plains Plaza at 113 Salem Plaza. The lessee, New England Orthotic and Prosthetic Systems (NEOPS) of Branford, took possession on March 1. The company, which was founded in 1998, is owned and managed by its practitioner -partners, and places emphasis on personalized service for its clients
The lessor, Plaza Enterprises LLC, was represented in the lease transaction by Connecticut Commercial Realty broker William Newman and by Norwich Attorney Mark Block of Block, Janey & Pascal, LLP. Broker Amy Visciglia, also of Connecticut Commercial's new London office, represented the lessee. The Plaza is situated adjacent to I-395 in Norwich's West Main Street corridor. Other tenants include MacDonalds, Dunkin Donuts, JoAnn Fabrics, State Line Tire, the The CorePlus Credit Union, Backus Hospital out-patient facility, and others.
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.
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.