Paramount Partners completes Phase I leasing - 16,210 s/f: Meyers exclusive marketing agent for the Pavilion
Paramount Partners completed the recent lease singing of White's Bakery signifying the completion of Phase one at the Pavilion. White's joins Buffalo Wild Wings, Hair Cuttery, Weight Watchers, Orange Leaf and Capriotti's.
Construction of this 16,210 s/f building is well under way. Buffalo Wild Wings will be one of the first to open for business this December.
Phase two consists of approximately 12,000 s/f of retail space. Leasing is progressing quickly. Only a few spaces remain between 1-5,000 s/f.
This strategically situated center is located directly across from the 380,000 s/f Mansfield Crossing lifestyle center and adjacent to the 24,000 s/f Mansfield Marketplace. Tenants in this new center will benefit from the large base of existing regional and local customers.
Adjacent retailers include LL Bean, American Eagle, Ann Taylor Loft, Chico's Coldwater Creek, Jos A. Bank Clothiers, Best Buy, Kohl's, Justice, Sports Authority, Michael's, Wines & More, Petco, Bertucci's, Cosi, Friday's, Coldstone Creamery and many others.
Exclusive marketing agent Deborah Meyers, principal of Paramount Partners, has been very pleased with the leasing activity. "The signing of White's Bakery and the completion of Phase One has created increased interest from retailers eager to be part of Phase II. All three centers on School St have enjoyed very low vacancy rates. These spaces are the last remaining opportunities in this market."
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.
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.