Litsky Associates completes four deals at Wintonbury Mall
Litsky Associates has completed four deals totaling over 28,000 s/f at Wintonbury Mall. The 110,000 s/f mixed-use development constructed in the late 1960s is owned by Lightstone Group.
Bloomfield Cinemas, an 8-screen multiplex, will open 21,800 s/f in May to coincide with the new summer releases. The theater will show first run movies at discounted prices.
Arthur Murray Dance Studio has opened 2,850 s/f taking advantage of the increased interest in ballroom dance sweeping the country. This is their second location.
Sit N Knit, a well-established knitting store, has relocated from West Hartford Center to Wintonbury Mall. The 1,850 s/f store will offer knitting lessons and sell a wide variety of yarn goods and specialty products.
Goin' Postal, a 300-store, national franchise offering consumers and businesses access to all the main carriers such as FedEx, DHL, UPS, and the United States Postal Service opened a 1,600 s/f store.
Goin' Postal also offers other business related services such as copying, faxing, mailbox rentals, cards, unique gift items, and office supplies.
Litsky Assoc. was the sole broker in each transaction.
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.