News: Brokerage

NAI Glickman Kovago & Jacobs brokers two retail transactions - 4,000 s/f; $2.2m

318 Main Street - Northborough, MA

Northborough, MA NAI Glickman Kovago & Jacobs (NAIGKJ)  has recently brokered a lease transaction for Concierge Physical Therapy and a $2.2 million sale of Zorba’s Taverna.

Concierge Physical Therapy, a Sutton-based company with four locations, recently signed a lease for the last remaining 4,000 s/f space at 318 Main St., a retail building close to town center. NAI Glickman Kovago & Jacobs vice presidents, Jim Keogh and Alexis Brissette, represented Concierge Physical Therapy in the transaction. This marks the second opening for Concierge Physical Therapy in the last twelve months, following the acquisition of its new headquarters, located at 211 Worcester Providence Tpke. in Sutton, last November.

NAI Glickman Kovago & Jacobs VP, Jim Keogh, said, “It was a pleasure to again work with Dr. Sean Lorden, owner of Concierge Physical Therapy, to help facilitate another successful transaction. We’re honored to have played a small role in Concierge PT’s expansion, which will allow them to further carry out their mission of providing critical rehabilitative services to those in need. I look forward to seeing the practice continue to grow and provide countless individuals with the healing they need to get back on their feet and feel like themselves again.”

97 Stafford Street - Worcester, MA

CNTTD, LLC recently sold their family operated restaurant, Zorba’s Taverna, located at 97 Stafford St. in Worcester. The Families Restaurants, INC, owners of restaurants in NY, NH, and MA, purchased the property with plans to reimagine it as a destination for Chinese buffet and Chinese cuisine enthusiasts. Facilitating this transition were vice presidents of NAI Glickman Kovago and Jacobs, Lexi Brissette and Jim Keogh, representing the sellers, alongside Jarvid Cortes of KW Realty, representing the buyer. The transaction closed on April 25, 2024, with a final sale price of $2.2 million.

NAI Glickman Kovago and Jacobs vice president, Brissette, said, “It was a pleasure to work with both parties and be part of this transaction. Zorba’s Taverna has been an integral part of Worcester’s culinary landscape, and bidding farewell is bittersweet. I’m eager to witness the transformation that the new owners will bring to the building, and I have full confidence in their future success.”

The significance of this location is personal to Brissette, as it’s where she once served as a waitress, adding an extra layer of sentimentality to the transaction.

Nusa Dimopoulos, owner of Zorba’s, said, “We would like to thank the community that supported us over the years. We wish the new owners many years of success.”

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.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The rise of AI in CRE - And what it means for every  skilled profession - A broker & appraiser weighs in - by Bryan Plourde

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.
End of the year retail thoughts - by Carol Todreas

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.