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.
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.
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.