News: Brokerage

Galaxy Development breaks ground on 220,000 s/f Pleasant Valley Crossing

Galaxy Development of Auburn has commenced construction for a new Price Chopper anchored 220,000 s/f retail center along Rte. 146. The site includes 20 acres situated on the east side of Rte. 146 which connects to the signalized intersection of Boston Rd. This sought after retail site has been patiently waiting to benefit from the MA DOT $6 million dollar road improvements to Rte. 146 and the intersection of Boston Rd. The new intersection will feature nine lanes at the signal light and provide simple access to the new shopping center development from all directions. The existing traffic count is over 45,000 cars per day which will rise substantially with the completion of the highway improvements as well as the increased volume generated by the Galaxy project. A free standing 57,000 s/f Price Chopper will be the anchor store at Pleasant Valley Crossing. Other retail spaces include a front parcel along Rte. 146 which has been leased to UniBank and other pad sites suitable for restaurant and drive thru opportunities at the Rte. 146 entrance. Large box anchor and junior anchor spaces are also available as well as smaller units from 1,300 s/f and up for the other retail buildings. The civil engineering for the project was provided by Heritage Design of Whitinsville and MidPoint Engineering of Auburn, Mass. Traffic engineering was done by Green International Affiliates, Inc of Westford, Mass. Galaxy used the architectural services of Allevato & Associates of Franklin, Mass. for the retail buildings, and Cuhaci Peterson of Orlando, Fla. for the Price Chopper. Financing for the acquisition of the property was provided by Millbury Credit Union which was also the Seller of the property. Kelleher & Sadowsky Associates, Inc. of Worcester was both the listing and the selling broker. Attorney Larry Brodeur of Fletcher Tilton, PC of Worcester represented Galaxy Development throughout the permitting process.
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.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
End of the year retail thoughts - by Carol Todreas

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

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.