HK Group sells retail center for $1.425m to Westrock Development
A 10,000 s/f retail center at 2115 - 2135 Boston Ave. has been sold for $1.425 million to Westrock Development, LLC from Yonkers, New York, a real estate investment company.
Directly on US Rte. 1, the property was fully leased to six tenants, including a restaurant.
HK Group, Westport, was exclusive agent for the seller, Raj Gauri, LLC, and was the only broker involved in this transaction. Executive vice president Franco Fellah and sales associate Kate Lynch were both responsible for completing this sale.
Attorneys were Dan Nagel of Cohen & Wolf, Bridgeport, for the buyer and Scott Gerard of Randel & Gerard, Westport for the seller.
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.
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.
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.