New England Retail Properties leases 38,600 s/f at Colonial Plaza
New England Retail Properties, Inc. of Wethersfield finalized two leases at the Colonial Plaza Shopping Center. The newest tenants will be Family Dental Center, a 4,100 s/f Boston-based 17 office dental chain which was represented by Brian Zelman of ERA Broder Commercial of West Hartford, and Red, White & Blue Stores, a Calif.-based thrift store which leased 34,500 s/f and was represented by Toby Brimberg of O,R&L of Branford.
Matt Halprin and Nelson Pickering of New England Retail Properties, Inc. exclusively represented the landlord, Thomaston Avenue Associates of Fairfield.
Red, White & Blue Stores was founded more than 30 years ago and partners with the Vietnam Veterans of America with locations in Ore., Calif. Fla., Penn., N.J. and Mich. This will be its first New England location.
Colonial Plaza has other national tenants including Dunkin' Donuts and Wendy's and consists of 220,000 s/f on the West End of Waterbury.
Melrose, MA Dennis Kelleher and John Pentore of Horvath & Tremblay have facilitated the sale of 47 units spread across two multi-family properties in totaling $13.7 million. Kelleher and Pentore facilitated the sale of 333 Main St. and 447 Pleasant St.
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.