News:
Brokerage
Posted: February 25, 2022
Press|Cuozzo Realtors handle $750,000 sale and 3,400 s/f lease
Hamden, CT According to Stephen Press, SIOR of Press|Cuozzo Realtors, the former Park Central Tavern/1640 Wine Bar was sold to Amici Corner Deli LLC.
Press had been marketing the fully equipped bar/restaurant and real estate at 1640 Whitney Ave. The property features a 6,726 s/f building containing a 5,430 s/f restaurant on the main level and one 900 s/f residential unit above, set on .62 acres with ample on-site parking.
The transaction closed at $750,000 with Press as the sole broker representing the seller Sixteen Forty Whitney, LLC and procured the buyer.
Also, according to Press, the free standing 3,400 s/f restaurant at 2308 Whitney Ave. has been leased to Noodle Warriors, LLC.
Long time Asian restaurant operators from CT and DE have partnered to create Roishi Ramen, a high quality yet affordable ramen, sushi and bubble tea concept. The partners were excited to re-deploy the former Roost on Whitney Ave. into a hip restaurant and bar catering to businesspeople, young adult and college students looking for a unique dining experience. Opening projected for March 1st.
The long-term lease was signed in November, with Press representing the landlord, Tri-Star Realty, LLC and Doug Tornatore of Focus Properties, LLC represented the tenant.
MORE FROM Brokerage
Sullivan & Sullivan brings 14 Class A office condos to auction
Stoneham, MA According to Sullivan & Sullivan Auctioneers, the auction firm will bring a rare, bulk purchase opportunity to investors via an absolute auction of 14 Class A office condominiums off I-93 near Spot Pond. The combined offering totals 21,083 s/f with 14 individual units ranging in size from roughly 4,063 s/f to 485 s/f within two interconnected buildings. The space is approved for medical, professional office, and general office, among other uses.
Quick Hits
Columns and Thought Leadership
The rise of AI in CRE - And what it means for every skilled profession - A broker & appraiser weighs in - by Bryan Plourde
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.
End of the year retail thoughts - by Carol Todreas
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.
September Promotion
