Levey Miller Maretz sells Montowese Market Sq. for $2.3m
Bernie Diana of Levey Miller Maretz Realtors was the sole broker in the $2.3 million sale of Montowese Market Sq., home of the Montowese Meat Market and other retail businesses. The center sits on 4 acres of land.
The center will be demolished and will be the new home of a 14,000 s/f Rite Aid Pharmacy. Presently Rite Aid is located on Quinnipiac Ave. approximately 1/4 mile from its new site. The Montowese Meat Market will remain open until its new location on Middletown Ave. just north of First Fuel is ready. Many of the other tenants have already relocated and have opened in the immediate area.
The buyer of the property, Center Plan Development, was represented by attorney Paul Proto of North Haven. Attorney Joseph DePaola of North Haven represented the seller.
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.