Jones Lang LaSalle leases 4,876 s/f to Chick-Fil-A in Chicopee
Chick-Fil-A opened its first freestanding Mass. location, a project managed by Jones Lang LaSalle's project and development services group. This is the company's first stand-alone restaurant in the state. Additional Chick-Fil-A restaurants exist in food court locations in the North Shore, Burlington and Pheasant Lane Malls.
The new 4,876 s/f Chicopee location was constructed on a 57,271 s/f lot at 501 Memorial Dr.
JLL is working with Chick-Fil-A on a New England expansion which includes the permitting of 12 restaurants, with 4 more starting construction this spring.
The expansion will bring additional Chick-Fil-A locations to Mass., Conn., N.Y., Rhode Island, Vermont and Maine, and is planned to continue through 2020.
Beverly, MA Jay Goldberg, president and owner of Spire Investments has completed the purchase of four multifamily buildings. The 33-unit purchase amounted to a sale price of $9.2 million or $278,788 per unit. The properties are all located in downtown and consist of one- and two-bedroom units.
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.