According to Daniel Plotkin, principal with Northeast Retail Leasing & Management Company, LLC, East Haven, Conn.-based Town Fair Tire Centers opened its 82nd store at 215 Main St. and has four new stores following it slated to open around the second quarter of 2011. The 7,100 s/f Tewksbury store sited below Rte. 38 to avoid zoning prohibitions was built with a high façade offering signage visibility.
Plotkin said, "The building location is counter-intuitive for the average new store development rep, but from a sales point of view it's a home run." Town Fair is creative and flexible when it comes to high volume markets and will always try to find a way to make a new store work, whether in existing buildings or new construction.
The four new stores under construction are located in Middletown, R.I. at West Main Rd. and Valley St., Woburn, Mass. at 420 Washington St., Topsham, Me. at Topsham Fair Mall Rd., and Auburn, Me. on Mt. Auburn Ave. and are all new 7,144 s/f prototypical buildings. The four new stores will bring the store count to 86.
Plotkin continues to seek locations throughout New England, especially in eastern Mass., southern N.H., and Me. Town Fair Tire is a privately owned company in business since 1966. Town Fair Tire sells and installs tires and wheels but does not sell parts or repair motor vehicles.
Little Compton, RI Mott & Chace Sotheby’s International Realty sold 17 Ferolbink Way, for $4.5 million. The sellers were represented by Cherry Arnold, sales associate of Mott & Chace
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.