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.
Wallingford, CT O,R&L Commercial has completed the $3.8 million sale of a mixed-use investment property located at 33-39 North Main St. and 24-25 Wallace Ave. in the town center.
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.