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Brokerage
Posted: August 30, 2024
Retail Real Estate Advisors and
Afonso RE facilitate $3.6m sale
Natick, MA 247 West Central St. traded for a record $3.6 million. The 10,000 s/f building had been owned and occupied by an affiliate of Mass Diving for over 20 years. The property had a lot of interest because it abuts the West Natick train station and became a focus for MA transit housing under the states latest plan to provide more housing options. Ria McNamara of Retail Real Estate Advisors handled the sale on behalf of the seller vetting many candidates who expressed interest in the property. The buyer was a franchisee of The Learning Experience, a national child care company and was represented by Marc Schaen of Afonso RE.
Construction for the redevelopment has commenced at the property.
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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.
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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.
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