Morizio and Cafasso of Colliers Dow & Condon broker $18 million sale

Summit Orange LLC purchased 110 Marsh Hill Rd. for $18 million from National Amusements of Mass. Nicholas Morizio, SIOR, CRE and John Cafasso, CCIM of Colliers Dow & Condon represented both parties. Summit, based in Southport, closed on the first of the four locations. The former multiplex location (across from the proposed Stew Leonards) will be redeveloped for a new 350,000 s/f regional service center by The United Illuminating which has, in turn, purchased the location from Summit. Colliers Dow & Condon has three other Showcase Cinemas under contract to Summit Development for retail development.

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Horvath & Tremblay sells Trader Joe’s in Shelton for $7,882,639

Shelton, CT Bob Horvath, Todd Tremblay, Matt Nadler and Jack Laurendeau of Horvath & Tremblay have completed the sale of Trader Joe’s. Horvath & Tremblay exclusively represented the seller and brought the buyer to complete the transaction at a sale price of $7,882,639 which represents a 4.95% Cap Rate.

Rohrer and Scanlon of Colliers sell 140 Queen City Ave. - $7.5 million to RIO Holdings NH

Rohrer and Scanlon of Colliers sell 140 Queen City Ave. - $7.5m to RIO Holdings NH

Robinson and Norwood of NAI Norwood Group sell 21,780 s/f industrial for $1.445 million

Robinson and Norwood of NAI Norwood Group sell 21,780 s/f ind’l. for $1.445m

Russell and Nolan of Pearce close deal on 30,000 s/f industrial building

Pearce closes deal on 30,000 s/f industrial building

O,R&L Commercial brokers $4.05 million sale of The Preserve at Shuttle Meadow

O,R&L Commercial brokers $4.05m sale of The Preserve at Shuttle Meadow

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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.

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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.