GHP Office Realty signs five leases totaling 10,568 s/f at Tower Plaza
GHP Office Realty, LLC, a substantial owner and manager of commercial properties in both Fairfield and Westchester Counties completed the signing of five leases totaling 10,568 s/f at 120 New Canaan Ave., a 25,000 s/f, neighborhood strip center at Exit 38 off of CT-15 and Exit 2 on US-7. This absorption of space brings the center to 100% occupied.
Kelly Houlihan-Buckley and Meghan McEvoy, of GHP Office Realty, represented the owners on the following deals:
* Brightview at Norwalk Assisted Living Center has signed a lease for 3,420 s/f to use as a showroom to market available units at their Assisted Living Center which will be located at 162 New Canaan Ave.
* A&S Fine Foods of Norwalk, a traditional Italian specialty store with a wide
Variety of products and services signed a long-term renewal for their 1,973 s/f retail space.
* Café Madrid, a Spanish Tapas and Wine Restaurant signed a long-term renewal for their 2,315 s/f restaurant.
* La Bella Salon signed a long-term renewal for their 1,200 s/f salon.
* State of the Art Cleaners has signed a long-term renewal for their 1,660 s/f store.
The property is currently 100% occupied and the tenants are benefiting from a $200,000 capital improvement project that the landlord has just completed.
West Roxbury, MA Prescott IOS has arranged an industrial outdoor storage lease for Eastern Bus Company at 151 Rivermoor St. David Skinner and Devon Wagner of Prescott IOS represented the tenant, while Caroline Munn nd Rob Byrne of CBRE represented the landlord, Feeney Brothers Real Estate. The 40,000 front foot site gives the bus operator secured yard space close to the routes it serves across Boston and the inner suburbs.
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.
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.