KeyPoint Partners, LLC will represent Rita's, as the Italian ice company seeks multiple retail locations throughout metro-Boston, according to Robert Lemons, managing partner of the commercial real estate services firm.
Don Mace, vice president of leasing, is heading up the expansion effort. Rita's currently has a limited presence in New England, but is eager to add up to 30 locations in the metro-Boston area.
Rita's is one of the largest Italian Ice concepts in the world, with over 600 outlets in 21 states. The metro-Boston expansion is just one of the company's latest areas of growth.
"Rita's was fortunate to secure an extremely competent, savvy area developer to bring this top-notch product line into one of the strongest markets in the country," said Mace. "We're conducting an aggressive initial search for a premier location in this market, and given Rita's flexibility in real estate criteria, we have many options to consider. We're excited to help bring Rita's to the Boston area."
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.