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Brokerage
Posted: October 23, 2014
Cushman & Wakefield sells Five Town Plaza for $31 million
Cushman & Wakefield completed the sale of Five Town Plaza for $3.1 million to Phillips Edison-ARC Shopping Center REIT Inc. The Cushman & Wakefield team, led by president Rob Griffin, executive vice president Geoffrey Millerd and associate director Justin Smith, oversaw the transaction of the 328,372 s/f Big Y-anchored property on behalf of Urstadt Biddle Properties, Inc.
Five Town Plaza is a shopping center located on Rte. 21 (Cooley St.) in one of the most densely populated areas of western Massachusetts. In addition to Big Y, this institutionally owned and operated asset has consistently attracted and retained some of the most dominant retailers in the market. Urstadt Biddle Properties, a self-administered equity real estate investment trust (REIT) founded in 1969 and headquartered in Greenwich, Conn., has owned Five Town Plaza for over 40 years.
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Hines of Horvath & Tremblay completes the sale of 200 multi-family units in Connecticut for $16.24 million
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.
Quick Hits
Columns and Thought Leadership
End of the year retail thoughts - by Carol Todreas
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.
The rise of AI in CRE - And what it means for every skilled profession - A broker & appraiser weighs in - by Bryan Plourde
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.
