 (1).png)
News:
Owners Developers & Managers
Posted: July 24, 2014
Paskalis and Steingold of MG Commercial broker $10.7 million sale; Okonite Company is buyer
MG Commercial Real Estate represented The Okonite Company in the acquisition of 5 Industrial Rd. and 2275 Diamond Hill Rd. The Okonite Company, based in Ramsey, N.J., is a leader in the wire and cable manufacturing industry since 1878. 5 Industrial Rd. is a 248,000 s/f industrial facility situated on 13.2 acres within the Cumberland Industrial Park off exit 11 of I-295. The building will undergo major renovations, including a significant addition. The retail plaza located at 2275 Diamond Hill Rd. will be raised to accommodate the building addition and more parking. The combined sale consideration was $10.7 million.
George Paskalis, SIOR and Larry Steingold of MG Commercial were the exclusive brokers. Richard Coen of Burns and Levinson, LLP represented Okonite as their legal counsel.
MORE FROM Owners Developers & Managers
Routine Properties acquires Bristol Business Park at 383 Middle St. - 406,665 s/f industrial campus
Bristol, CT Routine Properties, a boutique real estate development and investment firm specializing in industrial assets throughout the Northeast, has acquired the Bristol Business Park, a 406,665 s/f industrial campus located at 383 Middle St.
.png)
Columns and Thought Leadership
IREM president’s message: Our new reality - Staying ahead of supply chain delays - by Yoany Vargas
Supply chain delays are slowing construction, ratcheting up operating costs, and extending turnover timelines across Greater Boston, directly reducing revenue and increasing the workload for multifamily and
Florida ruling raises bar for condo terminations and buyouts - by Michael Karsch
On October 14, 2025, in a landmark decision with significant implications for the Florida real estate market, the Supreme Court of Florida formally denied Two Roads Development’s (TRD Biscayne LLC) petition for review in its long-running case against unit owners of Biscayne 21,
Revitalized Town Centers: Retail??? - by Carol Todreas
It is now widely accepted that customers want to shop in person at physical stores. Brands know that they do better business in a physical store than just on line so they want to open stores. Demand for retail space by digital merchants, local entrepreneurs, and newly developed national chains
Retail infill strategy to activate Pawtucket’s Conant Thread District - by Gaetan Kashala
Until recently, the Conant Thread District consisted of approximately 150 acres of underutilized industrial land spanning Pawtucket and Central Falls. Today, the area is one of the most significant