KeyPoint Partners sells 24,740 s/f retail property at 476 Boston Turnpike
KeyPoint Partners, LLC has negotiated the sale of 476 Boston Turnpike. Don Mace, vice president of leasing, negotiated the transaction on behalf of the owner, Torchlight Investors.
476 Boston Tpke., a former Borders Books store on Rte. 9, was sold to B-W Warrenville Operations, LLC. The property, which is prominently located in a retail-intensive section of Rte. 9 near Stop & Shop, Home Depot, Bed Bath & Beyond, Bob's Stores, and Staples, will soon be redeveloped for Buffalo Wild Wings and Tile Shop.
"We have a successful record of developing and redeveloping retail space, and with the planned improvements and tenancies in queue, 476 Boston Turnpike will be a viable destination," said Mace.
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.
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.