Lewis of Vidal Wettenstein brokers sale of 50,000 s/f shopping center
The 50,000 s/f Strawberry Hill Shopping Center, located at 420-444 Westport Ave., anchored by Staples and Blockbuster, recently sold to an entity affiliated with Westport-based Paragon Realty Group LLC. Robert Lewis, partner in the Westport commercial real estate firm Vidal Wettenstein represented Paragon, while Joseph Breault of M.F. Discala represented the sellers, SH Realty.
Lewis was the sole broker in the sale of 490 and 508 Westport Ave., a 55,600 s/f retail property which is tenanted by The Fitness and Tennis Club and Ski Market. This property was also purchased by an affiliate of Paragon Realty Group in the last quarter of 2007.
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.
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.