Fischer of Fischer Real Estate sells 7.5 acres for $695,000 in Derby

Marcucio Garden Center, located at 480 New Haven Ave. (Rte. 34) in Derby since 1998, was sold within 72 hours of being placed on the market for $695,000. The buyer was Master One, LLC of East Haven. Although the total size of the parcel is 7.5 acres, only slightly more than 1 acre is usable and zoned for retail use. The balance of the land was undevelopable due to drainage and other use restrictions. The location, adjacent to Lowes and close to other big name retailers such as WalMart, Starbucks, Dunkin Donuts, Burger King, CVS, McDonalds and Wendy's, is a desirable retail site with 34,600 cars passing by daily and over 36,000 people living within a drive-time of 7 minutes. Master One, LLC plans to demolish the garden center and construct a new TownFair Tire Center on the site. Alan Fischer, CCIM, SIOR, of Orange-based Fischer Real Estate Inc. represented the buyer and the seller.

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Kelleher & Pentore of Horvath & Tremblay sell two multi-family property for $13.7 million

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.

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O’Brien of Greater Boston Commercial Properties, Inc. handles sale of 45.5 acres of commercial land

O’Brien of Greater Boston Commercial Props. handles sale of 45.5 acres

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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.

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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.