News:
Brokerage
Posted: May 25, 2018
Holliday Fenoglio Fowler (HFF) sells 60,488 s/f Super Stop & Shop-anchored retail center
Richmond, RI Holliday Fenoglio Fowler, L.P. (HFF) completed the sale of a 60,488 s/f Super Stop & Shop supermarket-anchored shopping center.
The HFF team marketed the property on behalf of the seller, and procured the institutional buyer.
The property comprises a Super Stop & Shop grocery store, Super Stop & Shop Fuel Center and a 5,000 s/f Anytime Fitness. Located at 22 Kingstown Rd., the shopping center is at the I-95 and Rte. 138 interchange, which serves the communities of Narragansett, Block Island and Charlestown. There are more than 58,000 residents within the property’s 10-mile trade area.
The HFF investment advisory team representing the seller consisted of senior managing director James Koury.
According to Koury, “This represents an attractive opportunity for Agree as Stop & Shop not only has a commanding market share in the state of R.I., but there isn’t another grocer to compete with their Richmond store within a 15-mile radius.”
MORE FROM Brokerage
Hannigan of Choyce Peterson negotiates 8,306 s/f lease to Carbon Capture Machine
Trumbull, CT Choyce Peterson, Inc. represented Carbon Capture Machine (CCM) in securing a lease for 8,306 s/f of flex space at 60 Commerce Dr. This transaction involved a flexible office and lab environment, with CCM leasing space ideal for both administrative and lab production functions. Choyce Peterson principal John Hannigan represented CCM in this transaction.
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.
