News:
Brokerage
Posted: October 24, 2013
Malone Commercial Brokers leases 4,000 s/f at the Gateway Shoppes
Malone Commercial Brokers has leased 4,000 s/f to the Maine Bureau of Motor Vehicles at The Gateway Shoppes at Scarborough. The bureau is relocating its Motor Vehicles branch office facility from the Maine Mall in So. Portland to space at Expedition Dr. within Gateway Shoppes. The space is currently undergoing fit-up with an expected move-in date of November 1.
The Gateway Shoppes is a 220,000 s/f regional retail complex located on 42 acres at Exit 42 of the Maine Turnpike. Cabela's 130,000 s/f superstore opened there in 2008. In addition to Cabela's anchor store, Bureau of Motor Vehicles joins Kitchen & Cork, Portland Pie Co., Pet Life/Kennel Shop, Thai 9 Restaurant, Phantom Fireworks and Famous Dave's at the Gateway Shoppes.
The complex is owned and managed by Feldco Development based in Connecticut.
MORE FROM Brokerage
Goldberg of Spire Investments purchases Beverly portfolio for $9.2m
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.
Quick Hits
Columns and Thought Leadership
End of the year retail thoughts - by Carol Todreas
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.
The rise of AI in CRE - And what it means for every skilled profession - A broker & appraiser weighs in - by Bryan Plourde
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.