Micozzi Management Inc. acquires 311 Newbury St. for $7.18 million
Micozzi Management Inc. acquired 311 Newbury St from Compass Realty Associates LLC for $7.18 million as an investment.
The single-story, class A retail building was redeveloped in September 2007 into a 12,900 s/f build-to-suit to accommodate CVS Pharmacy. CVS is locked into its triple-net lease agreement through January 31st, 2033.
The buyer and seller were self-represented.
Chelsea, MA Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of a 15 units for $3.55 million. 827-835 Broadway, which is a value-add type asset, is situated in a high-density, urban-infill neighborhood.
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.