McKinnon of The Grossman Cos.represents for lease 16,262 s/f
A 16,262 s/f end cap retail unit on one of the Boston area's most high-traffic thoroughfares is coming available this year.
"The space at 860 Commonwealth Ave., currently home to East Coast Alpine, is ideal for a wide range of retail users - including an urban grocer, clothing, fitness or restaurant," said Richard McKinnon, director of brokerage services for The Grossman Companies, Inc. McKinnon represents the landlord.
"The location is exceptional," said McKinnon. "The pedestrian and vehicle traffic is huge and the demographics are incredible. There's a population of 255,000 within 2 miles, with a median household income of $89,770. It's rare that such an opportunity presents itself."
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.