News:
Brokerage
Posted: January 22, 2015
Drinkwater and Richard of Marcus & Millichap arrange sales of two properties - $3.06 million
Laurie Ann Drinkwater from Marcus & Millichap's Boston office, and Seth Richard from the firm's Manhattan office have sold a Napa Auto Parts Retail store to a New England-based investor in a 1031 Exchange. The asset commanded a selling price of $1.65 million.
Drinkwater and Richard represented the buyer, a Massachusetts based investor, while Marcus & Millichap's San Francisco office represented the institutional seller. Adrian Harris is the firm's broker of record in Maine.
Napa Auto Parts is located at 65 Market St. It is situated at a four-way, signalized hard-corner between the Mill Creek Shopping Center and a Shaw's Supermarket anchored shopping center.
In another transaction, Drinkwater and Richard have sold a Merchant's Bank, located in Waterbury, Vt. The asset commanded a selling price of $1.41 million.
Drinkwater and Richard from the firm's Manhattan office represented the New England-based investor, while the firm's San Diego office represented the seller. Jeffrey Nick is the firm's broker of record in Vermont.
Merchant's Bank is located at 994 Waterbury Stowe Rd. The Bank is located off I-89.
MORE FROM Brokerage
Goldberg of Spire Investments purchases Beverly portfolio for $9.2m
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.
Columns and Thought Leadership
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.
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.