Cornerstone Sq., the area's soon to be completed retail/office location, is being embraced by retailers and medical office tenants-with the occupancy rate for the development climbing to over 80% - a full six months before the mixed-use development opens.
"The leasing interest has been incredible ever since the project was first announced," said Dusty Burke, president and CEO of American Commercial Real Estate and leasing broker for Cornerstone Sq. "Our tenants recognize the value of being a part of well-located, stylishly designed retail and medical office center, and want to be part of the excitement this development is creating."
Cornerstone Sq. is a 238,000 s/f mixed-use development comprised of 191,000 s/f of retail and 47,000 s/f of medical office space scheduled to open in October.
Springfield, MA Michael Bradley of Horvath & Tremblay has arranged the sale of the Belmont Portfolio, a six property, 78 unit multi-family portfolio. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $9.5 million.
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.