Reilly of Levey Miller Maretz brokers $2.74 million sale for Torello
Shawn Reilly of Levey Miller Maretz in Woodbridge represented both buyer and seller in the sale of the property located at 1651 Boston Post Rd. for $2.75 million, consisting of 2.5 acres and a 12,000 s/f building, the former home of Dakota's restaurant for many years.
The property was sold by Torello Enterprises who operated the Seafarer Restaurant prior to Dakota's to Post Road Market Place LLC. Post Road Market Place LLC plans to develop the property for retail use in the future.
They will either refurbish and lease out the existing building or demolish and have pad sites available.
Beverly, MA Jay Goldberg, president and owner of Spire Investments has completed the purchase of four multifamily buildings. The 33-unit purchase amounted to a sale price of $9.2 million or $278,788 per unit. The properties are all located in downtown and consist of one- and two-bedroom units.
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.