Grossman Development Group continues revitalization in Worcester & Shrewsbury
Grossman Development Group (GDG) is continuing its commitment to be an important part of re-energizing the Worcester County economy. Having recently completed acquisition of one of the highest volume Goodyear tire stores in the chain, GDG expanded the Worcester location on Grafton St. with two additional bays. The highly visible location is adjacent to a busy Stop & Shop-anchored shopping plaza.
GDG has also been working with Whole Foods to finalize the initial phase of the Lakeway District Project. Whole Foods has been an early adopter of the project and is slated to occupy a 50,000 s/f building within the proposed retail and residential project.
Grossman Development Group president Howard Grossman and vice president of development Mark Hebert attended Shrewsbury Planning board meetings in December and January to discuss and answer questions surrounding building plans and traffic flow.
"Replacing the existing property and land with newly constructed living and recreation areas as well as retail options will continue to enhance this historic part of Shrewsbury that holds memories and nostalgia for generations of shoppers," said Grossman.
The Lakeway District project is scheduled to break ground in May, pending final project and design approval by the Shrewsbury Planning Board. There are also plans to announce confirmed retailers, restaurants and amenities within the month.
Wallingford, CT O,R&L Commercial has completed the $3.8 million sale of a mixed-use investment property located at 33-39 North Main St. and 24-25 Wallace Ave. in the town center.
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.