News: Brokerage

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.
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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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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

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