News: Brokerage

Garden City Center begins Phase II revitalization in Cranston

Phase II of the multi-phased strategy to expand, reconfigure and redevelop Garden City Center, Rhode Island's outdoor shopping venue, has begun as work gets underway with the demolition of the former Border's location to make way for a new two-level 38,000 s/f LA Fitness. Construction of the new building will begin this summer, and LA Fitness is expected to open in late December. At the same time, Garden City Center has signed a multi-year 5,850 s/f lease to bring the first Corner Bakery Café to Rhode Island. Anticipated to open late this year as part of Phase II, Corner Bakery Café will be located in space formerly occupied by large format stores (Circuit City and Linens n' Things) that are being transformed into smaller shops offering 2,700 to 7,000 s/f spaces for a variety of specialty retailers. Also in the village, the revitalization of several longtime retailers, including Sweenor's Chocolates and Starbucks continues. "We are always looking for ways to differentiate Garden City Center, and the transformation of the former large format stores into smaller spaces gives us the flexibility to offer options to unique local, regional and national retailers that we previously couldn't accommodate," said Thomas Wilder, a principal of The Wilder Companies, the management company for Garden City Center. "The reconfiguration of these large spaces into smaller shops, next to the new Pottery Barn building, combined with enhanced pedestrian and vehicular connections, really expands the Village shopping experience which is one of our major goals," said Andrew LaGrega, another principal of The Wilder Companies.
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
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.
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.