News: Brokerage

Nordblom Company unveils plans for Third Avenue in Northwest Park

Nordblom Company recently unveiled Third Avenue - the firm's planned dining, entertainment and retail destination within its Northwest Park mixed-use development. The company revealed the name, branding and a variety of project renderings for Third Avenue via a newly launched teaser website that details the entertainment destination scheduled to begin construction in spring 2012. Company officials also announced that infrastructure work to pave the way for Third Avenue is nearly finished, and demolition work on existing buildings is scheduled to begin. "Third Avenue will be a different kind of experience," said Todd Fremont-Smith, senior vice president of development and director of mixed-use projects for Nordblom. "While other developers have focused on sprawling lifestyle centers, Third Avenue's pedestrian-friendly boulevard and multitude of dining and entertainment options will give office workers, shoppers, and diners from Burlington and the region a first-of-its-kind reason to keep coming back." Lined with restaurants and anchored by Wegmans, Third Avenue is positioned to become a vibrant social hangout for Burlington - the 'Capitol City' of the 128 corridor. Demolition will soon begin to accommodate 300,000 s/f of retail space through Third Avenue's first phase of development. The first phase of construction at Third Avenue will begin in spring 2012 and conclude in the fall of 2013. Ultimately, Third Avenue is permitted to house up to 600,000 s/f of retail. Third Avenue will serve as a core element of Nordblom's broader Northwest Park redevelopment plan. Northwest Park is a 4.6 million s/f, mixed-use, mega-development that includes two distinct office campuses in addition to Third Avenue. Northwest Park is already home to a variety of Mass. companies, and it is the largest mixed-use fully-permitted project currently under construction in Mass.
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.