O'Neill of Grossman Co. brokers 2 leases to fully occupy 87,000 s/f center
With the recent renewal of Weight Watchers' lease and the addition of two new tenants -- The Talent Factory and Kool Kidz, the 87,000 s/f landmark Kingstown Plaza on Post Rd. on Rte. 1, is 100% occupied.
"The plaza has a great mix of both large and small tenants, including national, regional and local retailers," according to broker Frank O'Neill who represented the tenants and the landlord, The Grossman Companies, Inc., in the most recent transactions. He notes that due to the large number of stores in the plaza and changing business climates, getting to 'No vacancy' can present a challenge to property owners.
Long-time anchor tenants are TJ Maxx, HomeGoods and Dollar Tree. They are complemented by a variety of product and service-oriented stores including Verizon Wireless, Sovereign Bank, Lucky Nails, Curves for Women, Pier Pizza, Exotic Tans, The Talent Factory, a unique studio teaching dance, voice and acting; and Kool Kidz, "where kids can get a Kool haircut and a great time." Weight Watchers renewed its lease for 2,000 square feet.
O'Neill says The Grossman Companies, Inc., based in Quincy, Mass., is actively pursuing leasing and sales assignments throughout R.I., Mass. and southern N.E.
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.
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.