News: Brokerage

Friendly's debuts smaller restaurant with limited menu

The first Friendly's Express has opened in Mansfield. Customers will order at the counter from a limited menu, and employees will bring food to the table in less than 10 minutes. It's a few notches above fast food, with a more limited menu than at a traditional Friendly's - the kind of dining a customer would find at a Panera Bread bakery cafe, for example. The new restaurant, with just 40 seats, will also put a bigger emphasis on take-out orders for busy customers. "This is all about speed and portability,'' said Jim Sullivan, Friendly's vice president of franchising and development. "Consumers today don't have time for a sit-down experience.'' The 2,200 s/f restaurant is about one-third smaller than a typical Friendly's. Dennis Lombardi, executive vice president at the consultancy WD Partners, said it makes sense for Friendly's to enter this type of restaurant operation, but the chain will need to prove it has something unique to offer.
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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.
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Columns and Thought Leadership
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