Construction Managers and Developers, LLC is beginning construction of The Village Shoppes, nearly 22,000 s/f of commercial space located on Rte. 28. Architect for the project is Centrepoint Architects and the engineer is Hayes Engineers, Inc.
The $5 million property, which is easily accessible from Rtes. 128, 62 and 93, is permitted for both retail and commercial space. Commercial space ranges from 2,400 s/f with a drive thru; 5,168 s/f for a restaurant with a full liquor license and 7,200 s/f that can be further subdivided.
An additional 7,200 s/f of professional or retail space is available on the second level and will have full elevator accessibility.
The Village Shoppes are located at 303 Main St. and will be open for occupancy in fall 2008.
Melrose, MA Dennis Kelleher and John Pentore of Horvath & Tremblay have facilitated the sale of 47 units spread across two multi-family properties in totaling $13.7 million. Kelleher and Pentore facilitated the sale of 333 Main St. and 447 Pleasant St.
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.