O'Brien and McMahon of the NAI Norwood Group lease 4,100 s/f
According to NAI Norwood Group, Panera Bread Company has entered into a lease agreement for a 4,100 s/f free standing building with drive thru at the retail development project Pinkerton Place. Pinkerton Place has received full approvals for 49,000 s/f of retail space on approximately 8.5 acres and is currently under construction. According to construction manager, Randall LaClaire, Panera Bread should be open for business this summer.
Pinkerton Place is a well located retail project at the corner of Rte. 28 (Manchester Rd.) and Ashleigh Dr. in front of a new Wal-Mart Supercenter, scheduled for completion this year.
Brian O'Brien and Chris McMahon of NAI Norwood Group's Portsmouth office represented the landlord, Boomer Wolf, LLC in the transaction. Harmon Lewis of National Commercial Brokers represented PR Restaurants, LLC, a franchisee of Panera Bread Company. NAI Norwood Group is the exclusive broker for the remaining retail space at Pinkerton Place.
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.
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.
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.