News:
Brokerage
Posted: May 25, 2018
NKF Capital Markets brokers $21 million sale of Falmouth Shopping Center
Falmouth, ME NKF Capital Markets has completed the sale of Falmouth Shopping Center to private local investors for $21 million. Executive managing director Geoffrey Millerd and managing director Justin Smith of NKF Capital Markets, which is led by co-head of U.S. Capital Markets Robert Griffin, oversaw the transaction of the Shaw’s-anchored retail asset in conjunction with Porta & Co. broker Mackenzie Simpson on behalf of JPA Management.
Located along Rte. 1, Falmouth Shopping Center is presently 89% leased to a diverse tenant roster anchored by Shaw’s Supermarket, Ocean State Job Lot, Goodwill, Sullivan Tire and Bank of America.
“Falmouth Shopping Center benefits from longstanding grocery tenancy combined with exceptional recent leasing momentum,” said Smith. “It also enjoys limited local grocery competition within an affluent Portland suburb, able to draw consumers from a wide geographic trade area.”
MORE FROM Brokerage
O,R&L Commercial facilitates $3.8m sale of 29,879 s/f mixed-use property
Wallingford, CT O,R&L Commercial has completed the $3.8 million sale of a mixed-use investment property located at 33-39 North Main St. and 24-25 Wallace Ave. in the town center.
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
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
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.
