CT Commercial Realty & Select Homes leases space for relocation
5/A Baker Products Inc., the maker of products using the Black and Tan Tartan Baker fabric, has relocated its business from Newtown and Oxford, to 279 Watchaug Rd. Thomas Clark of CT Commercial Realty & Select Homes in Somers represented both the lessee and lessor in this transaction.
The former Equestrian Outfitters/Howard's Tack Shop at the Watchaug Road location has been renovated and is now the new home for 5/A Baker's Factory Outlet. The shop stocks the made-in-the-USA Baker Turnout stable blanket, known worldwide for its traditional good looks and "tough as nails" durability.
Connecticut Commercial Realty and Select Homes is a family-owned and operated company with brokerage in Conn. and Mass. and has offices at 216 Broad St. in New London, and 612 Main St. in Somers. The firm operates divisions in residential and commercial real estate brokerage, as well as certified appraisal, auction and management services.
Norwich, CT Tim Hines of Horvath & Tremblay has facilitated the sale of 200 multi-family units totaling $16.24 million. Hines arranged the sale of an 83 unit multi-family portfolio in Cromwell, Middletown and Norwich, Conn. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $9 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.