QBJ Land Development LLC, a subsidiary of Coastal Partners, LLC in Beverly Farms, recently began construction of a new BJ's Wholesale Club. The redevelopment of the former Patriot Ledger printing press site will transform the location into a community-sized 85,000 s/f store on 7.5 acres. The new store is slated to open spring 2010. The project represents QBJ's $20 million total investment into the city and surrounding area. The development project is expected to provide an estimated 150 construction jobs and 150-200 permanent full time and part time employees of BJ's Wholesale Club.
West Roxbury, MA Prescott IOS has arranged an industrial outdoor storage lease for Eastern Bus Company at 151 Rivermoor St. David Skinner and Devon Wagner of Prescott IOS represented the tenant, while Caroline Munn nd Rob Byrne of CBRE represented the landlord, Feeney Brothers Real Estate. The 40,000 front foot site gives the bus operator secured yard space close to the routes it serves across Boston and the inner suburbs.
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.