News:
Brokerage
Posted: November 25, 2016
Holliday Fenoglio Fowler (HFF) closes $10.8 million sale of 65,303 s/f
Jim Koury, Holliday Fenoglio Fowler
ShopRite Supermarket - Orange, CT
Orange, CT Holliday Fenoglio Fowler, L.P. (HFF) has closed the $10.8 million sale of a 65,303 s/f ShopRite Supermarket.
HFF marketed the property on behalf of the seller, SH Corp., and procured the buyer, AS Realty, LLC.
The offering consists of a free-standing grocery store fully leased to ShopRite through a 20-year net lease and an auto repair shop. Situated on seven acres at 249/259 Bull Hill Ln. (Rte. 162), the property has a regional draw given its access to both I-95 and Rte. 1, as well as the shadow anchors surrounding the property that include Walmart, Sam’s Club, Best Buy, Target, Kohl’s, and Lowe’s Home Improvement.
The HFF investment sales team representing the seller was led by senior managing director Jim Koury.
MORE FROM Brokerage
Hines of Horvath & Tremblay completes the sale of 200 multi-family units in Connecticut for $16.24 million
Norwich, CT Tim Hines of Horvath & Tremblay has facilitated the sale of 200 multi-family units totaling $16.24 million. Hines arranged the sale of an 83 unit multi-family portfolio in Cromwell, Middletown and Norwich, Conn. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $9 million.
Quick Hits
Columns and Thought Leadership
End of the year retail thoughts - by Carol Todreas
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.
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.
