Halprin of New England Retail Properties leases 28,000 s/f to PetsMart
New England Retail Properties, Inc. has leased 28,000 s/f to PetsMart, Inc. at Putnam Bridge Plaza. Matt Halprin, principal and partner of New England Retail Properties, Inc., acted as the exclusive broker for the landldord, LMA USA, Ltd. of Manchester, while John McDonald of SRA in Framingham, Mass. and Tom Londres of Metro Commercial in Philadelphia, Penn., represented the tenant in the transaction.
PetsMart, Inc. is one of the largest pet retailers in the U.S. operating 1,107 stores in the U.S. and Canada as well as 132 in-store pet hotels and doggie day camps. The Glastonbury/East Hartford store will service all components of PetsMart's business including a full service retail store, veterinary services, grooming, training and pet hotel services.
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.