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Brokerage
Posted: November 19, 2007
KeyPoint Partners negotiates 13,000 s/f lease for CVS at Messina's SC
KeyPoint Partners, LLC has negotiated a 13,000 s/f lease with CVS/pharmacy at Messina's Shopping Centre, a 52,406 s/f convenience center located at the corner of First and Main St. near Rte. 125, easily accessible from I-495. Don Mace handled the transaction on behalf of the landlord.
The CVS/pharmacy lease is part of a major two-phase renovation of the center, which includes new building facades and landscaping. Phase 1 has commenced, and will involve the demolition of the old supermarket to make way for the construction of the new CVS/pharmacy, which will include a drive-through. Tentative completion time for Phase 1 is January. During Phase 2, the old CVS/pharmacy building will be torn down and a new building will be rebuilt to complete the project. CVS/pharmacy, along with the other tenants at the center, will remain open during the entire renovation process.
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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.
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.
