R. Calabrese Agency and Proto Group broker 60,000 s/f lease
A Shop Rite grocery store will open at 750 Queen St. where a Shaw's supermarket was the anchor tenant in the Southington Plaza Shopping Center. The 60,000 s/f grocery store was leased by SuperValu as a Shaw's and closed approximately two years ago. Wakefern Food Corporation will open a Shop Rite grocery store in the space after completing renovations.
SuperValu negotiated a lease termination with the landlord, Southington/Route 10 Association Ltd. and Wakefern entered into a new lease with the property owner.
In the transaction, SuperValu was represented by Bob Bowden of the R. Calabrese Agency from Waterbury and Howard Goldfarb of Excess Space Retail Services in Lake Success, N.Y. The Proto Group of North Haven represented Wakefern Food Corporation, with Lisa Antoniewicz of Wakefern and attorney Richard Rendeiro of Kroll, McNamara, Evans & Delehanty, LLP. The landlord was represented by Bruce Fishman and Joe DeMaio and legal counsel was John Mellitz of Chase Enterprises.
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.
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.