Konover Construction completes $3.4m construction of Ocean State Job Lot
Konover Construction Corp. has completed the newest store for Ocean State Job Lot, in the Meriden Parkade Shopping Center located at 1201 E. Main St. This is the very first time the popular discount retail chain has built a new store instead of renovating an existing one, as is typical. Ocean State Job Lot opened the new 30,000 s/f store in November.
The highly detailed project took approximately six months to complete. Konover built the store from the ground up, demolishing two existing structures, as well as cleaning and grading a parcel of land that was adjacent to the existing Meriden Parkade center. The Ocean State Job Lot project was $1.7 million in construction cost and $1.7 million in site work. The company built a new entrance and 2.5 acre parking lot. The end of the new Ocean State Job Lot building is now joined to the existing shopping center.
Wallingford, CT O,R&L Commercial has completed the $3.8 million sale of a mixed-use investment property located at 33-39 North Main St. and 24-25 Wallace Ave. in the town center.
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.